Concurrent Investment Advisors LLC Buys Shares of 1,268 TKO Group Holdings, Inc. $TKO

Concurrent Investment Advisors LLC bought a new stake in TKO Group Holdings, Inc. (NYSE:TKO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,268 shares of the company’s stock, valued at approximately $231,000.

A number of other institutional investors also recently modified their holdings of TKO. Farther Finance Advisors LLC lifted its stake in shares of TKO Group by 129.8% during the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company’s stock valued at $33,000 after buying an additional 122 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of TKO Group by 30.4% during the 1st quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock valued at $271,000 after buying an additional 414 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of TKO Group by 19.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 11,637 shares of the company’s stock valued at $1,778,000 after buying an additional 1,929 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of TKO Group during the 1st quarter valued at approximately $230,000. Finally, State of Alaska Department of Revenue lifted its stake in shares of TKO Group by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 7,801 shares of the company’s stock valued at $1,192,000 after buying an additional 210 shares in the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TKO Group news, Director Peter C. B. Bynoe acquired 740 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was bought at an average price of $203.00 per share, with a total value of $150,220.00. Following the purchase, the director owned 5,187 shares of the company’s stock, valued at approximately $1,052,961. This trade represents a 16.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nick Khan sold 9,519 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total transaction of $1,774,627.17. Following the completion of the sale, the director directly owned 137,456 shares of the company’s stock, valued at $25,625,922.08. This trade represents a 6.48% decrease in their position. The disclosure for this sale can be found here. 53.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on TKO shares. Seaport Res Ptn upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Morgan Stanley upped their price target on shares of TKO Group from $165.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, September 25th. Baird R W upgraded shares of TKO Group to a “strong-buy” rating in a research note on Friday, September 5th. Sanford C. Bernstein increased their target price on shares of TKO Group from $190.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Finally, BTIG Research assumed coverage on shares of TKO Group in a research note on Monday, October 6th. They issued a “buy” rating and a $235.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.21.

TKO Group Price Performance

Shares of NYSE:TKO opened at $186.82 on Tuesday. The company’s fifty day moving average price is $193.15 and its 200-day moving average price is $174.01. The firm has a market capitalization of $37.05 billion, a price-to-earnings ratio of 77.20 and a beta of 0.76. TKO Group Holdings, Inc. has a one year low of $114.01 and a one year high of $212.49. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30.

TKO Group (NYSE:TKO) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.23 billion. TKO Group had a return on equity of 2.82% and a net margin of 5.40%.TKO Group’s quarterly revenue was up 53.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. On average, equities research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group announced that its Board of Directors has initiated a share buyback plan on Monday, September 15th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

TKO Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from TKO Group’s previous quarterly dividend of $0.38. TKO Group’s payout ratio is currently 125.62%.

TKO Group Profile

TKO Group Holdings, Inc operates as a sports and entertainment company. The company produces and licenses live events, television programs, and long-form and short-form content, reality series, and other filmed entertainment on digital and linear channels and via pay-per-view. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets.