Triasima Portfolio Management inc. Invests $609,000 in TKO Group Holdings, Inc. $TKO

Triasima Portfolio Management inc. bought a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,349 shares of the company’s stock, valued at approximately $609,000.

A number of other hedge funds have also modified their holdings of the business. Highland Capital Management LLC grew its position in shares of TKO Group by 35.8% during the second quarter. Highland Capital Management LLC now owns 37,877 shares of the company’s stock worth $6,892,000 after acquiring an additional 9,977 shares during the last quarter. O Keefe Stevens Advisory Inc. lifted its holdings in shares of TKO Group by 324.0% during the second quarter. O Keefe Stevens Advisory Inc. now owns 8,314 shares of the company’s stock worth $1,513,000 after purchasing an additional 6,353 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of TKO Group by 88.1% during the second quarter. QRG Capital Management Inc. now owns 2,836 shares of the company’s stock worth $516,000 after purchasing an additional 1,328 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of TKO Group during the second quarter worth $61,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of TKO Group by 5.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,217 shares of the company’s stock worth $1,495,000 after purchasing an additional 445 shares during the period. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Guggenheim increased their price target on TKO Group from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday. UBS Group increased their price target on TKO Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Bank of America increased their price target on TKO Group from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Citigroup increased their price target on TKO Group from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Finally, Baird R W raised TKO Group to a “strong-buy” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, TKO Group currently has an average rating of “Moderate Buy” and a consensus target price of $206.07.

Insider Transactions at TKO Group

In related news, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $197.82, for a total transaction of $1,883,048.58. Following the completion of the sale, the director owned 128,023 shares in the company, valued at approximately $25,325,509.86. This trade represents a 6.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. B. Bynoe acquired 740 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were bought at an average price of $203.00 per share, with a total value of $150,220.00. Following the transaction, the director owned 5,187 shares in the company, valued at $1,052,961. This represents a 16.64% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 73,725 shares of company stock valued at $12,966,373. 53.80% of the stock is currently owned by company insiders.

TKO Group Trading Up 0.1%

NYSE:TKO opened at $198.26 on Wednesday. The company has a market capitalization of $39.32 billion, a PE ratio of 81.93 and a beta of 0.76. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28. TKO Group Holdings, Inc. has a 52-week low of $114.01 and a 52-week high of $212.49. The stock has a fifty day simple moving average of $188.96 and a 200-day simple moving average of $171.54.

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

TKO Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $0.76 per share. The ex-dividend date was Monday, September 15th. This represents a $3.04 dividend on an annualized basis and a yield of 1.5%. This is a boost from TKO Group’s previous quarterly dividend of $0.38. TKO Group’s dividend payout ratio (DPR) is 125.62%.

TKO Group announced that its board has approved a share repurchase program on Monday, September 15th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.