Bank of New York Mellon Corp Cuts Stock Holdings in TKO Group Holdings, Inc. $TKO

Bank of New York Mellon Corp lowered its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 9.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,420 shares of the company’s stock after selling 39,040 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.20% of TKO Group worth $79,535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC grew its holdings in TKO Group by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,586 shares of the company’s stock valued at $541,000 after buying an additional 54 shares in the last quarter. Frank Rimerman Advisors LLC raised its holdings in shares of TKO Group by 3.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 1,783 shares of the company’s stock worth $373,000 after acquiring an additional 56 shares during the period. Stephens Inc. AR raised its holdings in shares of TKO Group by 2.7% during the 4th quarter. Stephens Inc. AR now owns 2,160 shares of the company’s stock worth $451,000 after acquiring an additional 56 shares during the period. Sunbelt Securities Inc. boosted its position in shares of TKO Group by 6.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 950 shares of the company’s stock valued at $192,000 after acquiring an additional 56 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of TKO Group by 29.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 249 shares of the company’s stock valued at $52,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Insider Activity

In related news, insider Mark S. Shapiro acquired 10,807 shares of TKO Group stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average price of $185.05 per share, for a total transaction of $1,999,835.35. Following the transaction, the insider owned 129,207 shares of the company’s stock, valued at $23,909,755.35. This represents a 9.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Nick Khan sold 9,589 shares of the business’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $182.63, for a total transaction of $1,751,239.07. Following the completion of the sale, the director directly owned 72,013 shares of the company’s stock, valued at approximately $13,151,734.19. This trade represents a 11.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 24,308 shares of company stock valued at $4,499,679 and have sold 28,696 shares valued at $5,511,785. 64.30% of the stock is currently owned by corporate insiders.

TKO Group Stock Performance

NYSE TKO opened at $181.81 on Wednesday. The company has a market cap of $35.29 billion, a P/E ratio of 67.84 and a beta of 0.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a 50-day moving average of $196.27 and a two-hundred day moving average of $198.87. TKO Group Holdings, Inc. has a 1-year low of $152.29 and a 1-year high of $226.94.

TKO Group (NYSE:TKO) last released its earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. TKO Group had a net margin of 4.47% and a return on equity of 2.49%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business earned $0.69 EPS. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, analysts anticipate that TKO Group Holdings, Inc. will post 4.94 EPS for the current year.

TKO Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, June 15th. This is a positive change from TKO Group’s previous quarterly dividend of $0.78. TKO Group’s dividend payout ratio (DPR) is 117.91%.

Analysts Set New Price Targets

TKO has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of TKO Group from $225.00 to $222.00 and set an “overweight” rating for the company in a research report on Tuesday. Citizens Jmp began coverage on shares of TKO Group in a report on Monday, March 30th. They issued a “mkt outperform” rating and a $240.00 target price on the stock. Guggenheim dropped their price target on shares of TKO Group from $232.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of TKO Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research raised shares of TKO Group from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, TKO Group has an average rating of “Moderate Buy” and an average price target of $233.87.

TKO Group Company Profile

TKO Group Holdings (NYSE: TKO) is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO’s core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.