Insider Selling: TKO Group (NYSE:TKO) Director Sells 9,519 Shares of Stock

TKO Group Holdings, Inc. (NYSE:TKO) Director Nick Khan sold 9,519 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $195.16, for a total value of $1,857,728.04. Following the transaction, the director directly owned 108,985 shares of the company’s stock, valued at $21,269,512.60. The trade was a 8.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Nick Khan also recently made the following trade(s):

• On Monday, November 3rd, Nick Khan sold 9,519 shares of TKO Group stock. The stock was sold at an average price of $188.26, for a total transaction of $1,792,046.94.
• On Friday, October 3rd, Nick Khan sold 9,519 shares of TKO Group stock. The stock was sold at an average price of $197.82, for a total transaction of $1,883,048.58.

TKO Group Price Performance

Shares of TKO Group stock traded up $1.23 on Friday, hitting $202.10. 780,857 shares of the company traded hands, compared to its average volume of 1,090,191. TKO Group Holdings, Inc. has a 12-month low of $133.07 and a 12-month high of $212.49. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.42. The company has a market cap of $39.43 billion, a P/E ratio of 77.43 and a beta of 0.65. The firm’s 50-day simple moving average is $189.36 and its 200 day simple moving average is $181.40.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.11). TKO Group had a net margin of 5.27% and a return on equity of 2.57%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s revenue for the quarter was down 27.3% on a year-over-year basis. Analysts expect that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $0.78 dividend. This is an increase from TKO Group’s previous quarterly dividend of $0.76. This represents a $3.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, December 15th. TKO Group’s payout ratio is currently 116.48%.

TKO Group declared that its Board of Directors has approved a share repurchase plan on Monday, September 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On TKO Group

A number of institutional investors have recently added to or reduced their stakes in TKO. Hemington Wealth Management boosted its position in shares of TKO Group by 425.0% during the first quarter. Hemington Wealth Management now owns 168 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of TKO Group by 350.0% in the 2nd quarter. Whittier Trust Co. now owns 135 shares of the company’s stock worth $25,000 after purchasing an additional 105 shares during the period. Golden State Wealth Management LLC increased its position in TKO Group by 840.0% during the second quarter. Golden State Wealth Management LLC now owns 141 shares of the company’s stock valued at $26,000 after acquiring an additional 126 shares during the last quarter. Cromwell Holdings LLC raised its stake in shares of TKO Group by 1,360.0% in the third quarter. Cromwell Holdings LLC now owns 146 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares during the period. Finally, Eastern Bank bought a new position in TKO Group during the 2nd quarter valued at about $34,000. 89.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TKO shares. UBS Group upped their price objective on shares of TKO Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Citigroup boosted their target price on TKO Group from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Sanford C. Bernstein increased their target price on TKO Group from $190.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 6th. Arete Research upgraded TKO Group to a “hold” rating in a research report on Wednesday, October 15th. Finally, BTIG Research reissued a “buy” rating and issued a $235.00 price target on shares of TKO Group in a report on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, TKO Group has a consensus rating of “Moderate Buy” and an average price target of $222.85.

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.