Securian Asset Management Inc. Sells 100 Shares of TKO Group Holdings, Inc. $TKO

Securian Asset Management Inc. reduced its position in TKO Group Holdings, Inc. (NYSE:TKO) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,426 shares of the company’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in TKO Group were worth $623,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Pekin Hardy Strauss Inc. lifted its holdings in shares of TKO Group by 3.2% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 3,210 shares of the company’s stock worth $491,000 after purchasing an additional 100 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of TKO Group by 46.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 316 shares of the company’s stock worth $58,000 after purchasing an additional 100 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its holdings in shares of TKO Group by 4.0% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 2,837 shares of the company’s stock worth $434,000 after purchasing an additional 108 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of TKO Group by 3.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,364 shares of the company’s stock worth $514,000 after purchasing an additional 125 shares in the last quarter. Finally, Hemington Wealth Management lifted its holdings in shares of TKO Group by 425.0% in the 1st quarter. Hemington Wealth Management now owns 168 shares of the company’s stock worth $25,000 after purchasing an additional 136 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe bought 740 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was purchased at an average cost of $203.00 per share, with a total value of $150,220.00. Following the transaction, the director directly owned 5,187 shares in the company, valued at $1,052,961. This trade represents a 16.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nick Khan sold 9,519 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $197.82, for a total value of $1,883,048.58. Following the sale, the director directly owned 128,023 shares of the company’s stock, valued at approximately $25,325,509.86. This represents a 6.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 61.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup increased 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. Seaport Res Ptn upgraded TKO Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. UBS Group raised their price objective on TKO Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Guggenheim raised their price objective on TKO Group from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, Sanford C. Bernstein raised their price objective on TKO Group from $190.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, TKO Group presently has an average rating of “Moderate Buy” and an average price target of $210.21.

TKO Group Price Performance

Shares of NYSE:TKO opened at $186.95 on Friday. TKO Group Holdings, Inc. has a 1-year low of $114.01 and a 1-year high of $212.49. The stock has a market cap of $37.07 billion, a PE ratio of 77.25 and a beta of 0.76. The stock’s fifty day simple moving average is $192.94 and its two-hundred day simple moving average is $174.84. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO) last announced its 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). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was up 53.7% compared to the same quarter last year. As a group, analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group announced that its Board of Directors has initiated a stock repurchase plan on Monday, September 15th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

TKO Group Increases Dividend

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

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.