Corton Capital Inc. Purchases Shares of 1,600 TKO Group Holdings, Inc. $TKO

Corton Capital Inc. bought a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,600 shares of the company’s stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TKO. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of TKO Group in the 1st quarter worth about $464,000. Ninety One SA PTY Ltd increased its position in shares of TKO Group by 3.4% in the 1st quarter. Ninety One SA PTY Ltd now owns 71,446 shares of the company’s stock worth $10,902,000 after purchasing an additional 2,330 shares during the last quarter. Hartford Investment Management Co. bought a new stake in shares of TKO Group in the 1st quarter worth about $623,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of TKO Group by 368.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,186 shares of the company’s stock worth $8,949,000 after purchasing an additional 38,695 shares during the last quarter. Finally, Ninety One UK Ltd increased its position in shares of TKO Group by 14.4% in the 2nd quarter. Ninety One UK Ltd now owns 4,850,006 shares of the company’s stock worth $882,459,000 after purchasing an additional 611,233 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Insider Activity at TKO Group

In other news, Director Peter C. B. Bynoe acquired 740 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was purchased 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Nick Khan sold 9,519 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $25,325,509.86. The trade was a 6.92% decrease in their position. The SEC filing for this sale provides additional information. 61.30% of the stock is owned by corporate insiders.

TKO Group Price Performance

NYSE TKO opened at $188.42 on Monday. The company has a 50-day moving average price of $193.26 and a two-hundred day moving average price of $176.89. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28. The stock has a market cap of $37.36 billion, a price-to-earnings ratio of 77.86 and a beta of 0.76. TKO Group Holdings, Inc. has a 52 week low of $115.12 and a 52 week high of $212.49.

TKO Group (NYSE:TKO) last posted its quarterly earnings data 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 company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The company’s revenue was up 53.7% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. Analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

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

TKO Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.76 per share. This is a boost from TKO Group’s previous quarterly dividend of $0.38. This represents a $3.04 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, September 15th. TKO Group’s dividend payout ratio (DPR) is currently 125.62%.

Analyst Ratings Changes

Several research firms have recently weighed in on TKO. Bank of America boosted their target price on shares of TKO Group from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Arete Research raised shares of TKO Group to a “hold” rating in a research report on Wednesday, October 15th. Guggenheim boosted their price objective on shares of TKO Group from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. BTIG Research started coverage on shares of TKO Group in a research report on Monday, October 6th. They set a “buy” rating and a $235.00 price objective for the company. Finally, Citigroup boosted their price objective on shares of TKO Group from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.38.

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.