TKO Group Holdings, Inc. $TKO Shares Sold by Apollo Management Holdings L.P.

Apollo Management Holdings L.P. cut its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 67.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 189,397 shares of the company’s stock after selling 398,000 shares during the period. TKO Group makes up 0.5% of Apollo Management Holdings L.P.’s holdings, making the stock its 16th biggest holding. Apollo Management Holdings L.P. owned approximately 0.10% of TKO Group worth $34,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in TKO Group by 242.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company’s stock valued at $228,675,000 after purchasing an additional 1,059,636 shares during the last quarter. Norges Bank purchased a new position in shares of TKO Group during the second quarter worth $132,441,000. Ninety One UK Ltd grew its stake in shares of TKO Group by 14.4% in the second quarter. Ninety One UK Ltd now owns 4,850,006 shares of the company’s stock valued at $882,459,000 after buying an additional 611,233 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of TKO Group in the 2nd quarter valued at $82,056,000. Finally, Alliancebernstein L.P. lifted its stake in TKO Group by 551.8% during the 2nd quarter. Alliancebernstein L.P. now owns 494,964 shares of the company’s stock worth $90,059,000 after acquiring an additional 419,021 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. BTIG Research reiterated a “buy” rating and set a $235.00 price target on shares of TKO Group in a research note on Tuesday, November 18th. Morgan Stanley lifted their price objective on shares of TKO Group from $165.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, September 25th. Pivotal Research increased their target price on shares of TKO Group from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. TD Cowen boosted their price target on shares of TKO Group from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Finally, JPMorgan Chase & Co. upped their price objective on TKO Group from $218.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $224.50.

TKO Group Trading Up 1.7%

NYSE:TKO opened at $207.80 on Friday. The company has a market capitalization of $40.54 billion, a PE ratio of 79.62 and a beta of 0.65. TKO Group Holdings, Inc. has a 52-week low of $133.07 and a 52-week high of $212.49. The stock’s 50 day moving average price is $189.53 and its 200 day moving average price is $183.06. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.42.

TKO Group (NYSE:TKO) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.11). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. TKO Group had a net margin of 5.27% and a return on equity of 2.57%. TKO Group’s revenue was down 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. On average, research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, December 15th. This is an increase from TKO Group’s previous quarterly dividend of $0.76. TKO Group’s payout ratio is 116.48%.

TKO Group declared that its Board of Directors has authorized a stock repurchase plan on Monday, September 15th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe acquired 740 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were bought at an average cost of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the purchase, the director owned 5,187 shares in the company, valued at $1,052,961. This trade represents a 16.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Nick Khan sold 9,519 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $195.16, for a total transaction of $1,857,728.04. Following the sale, the director owned 108,985 shares of the company’s stock, valued at $21,269,512.60. This trade represents a 8.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 29,573 shares of company stock worth $5,725,130. 61.30% of the stock is owned by company insiders.

About TKO Group

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.