TKO Group Holdings, Inc. $TKO Shares Bought by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC raised its position in TKO Group Holdings, Inc. (NYSE:TKO) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,506 shares of the company’s stock after buying an additional 485 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in TKO Group were worth $6,460,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hemington Wealth Management boosted its holdings in 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 buying an additional 136 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in TKO Group in the 1st quarter worth about $26,000. Bartlett & CO. Wealth Management LLC acquired a new stake in TKO Group in the 1st quarter worth about $27,000. Eastern Bank acquired a new stake in TKO Group in the 2nd quarter worth about $34,000. Finally, Farther Finance Advisors LLC boosted its holdings in TKO Group by 129.8% in the 1st quarter. Farther Finance Advisors LLC now owns 216 shares of the company’s stock worth $33,000 after buying an additional 122 shares during the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TKO Group

In other news, Director Peter C. B. Bynoe purchased 740 shares of TKO Group stock in a transaction dated Tuesday, September 16th. The shares were purchased 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nick Khan sold 9,519 shares of TKO Group stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $197.82, for a total transaction of $1,883,048.58. Following the sale, the director directly owned 128,023 shares in the company, valued at approximately $25,325,509.86. The trade was a 6.92% decrease in their position. The disclosure for this sale can be found here. 53.80% of the stock is currently owned by insiders.

TKO Group Stock Down 1.3%

TKO stock opened at $186.82 on Tuesday. The firm has a market cap of $37.05 billion, a PE ratio of 77.20 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. The firm’s 50 day moving average price is $193.15 and its 200-day moving average price is $174.01. TKO Group Holdings, Inc. has a one year low of $114.01 and a one year high of $212.49.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 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 analysts’ expectations of $1.23 billion. TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The firm’s quarterly revenue was up 53.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 EPS. On average, equities research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group announced that its board has authorized a stock buyback plan on Monday, September 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

TKO Group Increases Dividend

The company also recently declared 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. This represents a $3.04 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, September 15th. This is a boost from TKO Group’s previous quarterly dividend of $0.38. TKO Group’s dividend payout ratio is presently 125.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Seaport Res Ptn upgraded TKO Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Zacks Research raised shares of TKO Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Northcoast Research lowered shares of TKO Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 10th. Roth Capital raised their target price on shares of TKO Group from $208.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Finally, Robert W. Baird raised their target price on shares of TKO Group from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, TKO Group has an average rating of “Moderate Buy” and an average price target of $210.21.

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.