Highland Capital Management LLC Purchases 9,977 Shares of TKO Group Holdings, Inc. $TKO

Highland Capital Management LLC grew its position in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 35.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 37,877 shares of the company’s stock after buying an additional 9,977 shares during the quarter. Highland Capital Management LLC’s holdings in TKO Group were worth $6,892,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in TKO Group by 19.4% during the 1st quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company’s stock valued at $1,218,951,000 after purchasing an additional 1,295,817 shares during the period. Ninety One UK Ltd increased its stake in shares of TKO Group by 14.4% during 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 during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of TKO Group by 12.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,962,965 shares of the company’s stock valued at $299,961,000 after acquiring an additional 210,469 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in TKO Group by 242.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company’s stock worth $228,675,000 after acquiring an additional 1,059,636 shares during the period. Finally, Invesco Ltd. boosted its holdings in TKO Group by 569.7% in the first quarter. Invesco Ltd. now owns 1,423,052 shares of the company’s stock valued at $217,457,000 after acquiring an additional 1,210,563 shares in the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at TKO Group

In other news, Director Peter C. B. Bynoe acquired 740 shares of TKO Group stock in a transaction on Tuesday, September 16th. The stock was acquired at an average cost of $203.00 per share, for a total transaction of $150,220.00. Following 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nick Khan sold 45,168 shares of TKO Group stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $170.82, for a total transaction of $7,715,597.76. Following the completion of the transaction, the director directly owned 156,494 shares of the company’s stock, valued at $26,732,305.08. This trade represents a 22.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,206 shares of company stock valued at $11,083,325 over the last 90 days. Corporate insiders own 61.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TKO. JPMorgan Chase & Co. upped their price objective on shares of TKO Group from $182.00 to $212.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Seaport Res Ptn downgraded shares of TKO Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. UBS Group raised their price objective on shares of TKO Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Citigroup upped their target price on TKO Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Finally, Bank of America increased their target price on TKO Group from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.14.

TKO Group Price Performance

Shares of TKO opened at $197.32 on Friday. TKO Group Holdings, Inc. has a fifty-two week low of $114.01 and a fifty-two week high of $212.49. The firm’s 50-day simple moving average is $187.82 and its two-hundred day simple moving average is $170.87. The stock has a market cap of $39.13 billion, a PE ratio of 81.54 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.30 and a current 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%.The business’s revenue for the quarter was up 53.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. 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 authorized a stock buyback plan on Monday, September 15th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

TKO Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.76 dividend. This is an increase from TKO Group’s previous quarterly dividend of $0.38. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, September 15th. TKO Group’s payout ratio is currently 125.62%.

TKO Group Company 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.