Truist Financial Corp Decreases Stake in TKO Group Holdings, Inc. $TKO

Truist Financial Corp lowered its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,987 shares of the company’s stock after selling 261 shares during the quarter. Truist Financial Corp’s holdings in TKO Group were worth $3,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in TKO Group by 19.4% during the first quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company’s stock valued at $1,218,951,000 after acquiring an additional 1,295,817 shares during the last quarter. Ninety One UK Ltd increased its position in TKO Group by 2.1% during the first quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company’s stock valued at $647,727,000 after acquiring an additional 87,165 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in 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 during the last quarter. Price T Rowe Associates Inc. MD increased its position in TKO Group by 242.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company’s stock valued at $228,675,000 after acquiring an additional 1,059,636 shares during the last quarter. Finally, Invesco Ltd. increased its position in TKO Group by 569.7% during 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 during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on TKO shares. BTIG Research started coverage on TKO Group in a research report on Monday. They set a “buy” rating and a $235.00 price objective for the company. Morgan Stanley upped their price objective on TKO Group from $165.00 to $205.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Baird R W upgraded TKO Group to a “strong-buy” rating in a research report on Friday, September 5th. Northcoast Research cut TKO Group from a “buy” rating to a “neutral” rating in a research report on Thursday, July 10th. Finally, Citigroup upped their price objective on TKO Group from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.07.

Insider Activity at TKO Group

In other news, 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 value 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. This represents a 6.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. B. Bynoe purchased 740 shares of TKO Group stock in a transaction dated Tuesday, September 16th. The stock was acquired at an average price of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Over the last quarter, insiders sold 73,725 shares of company stock worth $12,966,373. Company insiders own 61.30% of the company’s stock.

TKO Group Stock Performance

NYSE TKO opened at $194.15 on Thursday. The firm has a market cap of $38.50 billion, a price-to-earnings ratio of 80.23 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. The business has a 50-day moving average price of $189.48 and a 200-day moving average price of $171.69. TKO Group Holdings, Inc. has a twelve month low of $114.01 and a twelve month high of $212.49.

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

TKO Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.76 dividend. 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 positive change from TKO Group’s previous quarterly dividend of $0.38. TKO Group’s dividend payout ratio is 125.62%.

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

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.