Principal Financial Group Inc. Sells 57,541 Shares of TKO Group Holdings, Inc. $TKO

Principal Financial Group Inc. decreased its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 15.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 326,857 shares of the company’s stock after selling 57,541 shares during the period. Principal Financial Group Inc.’s holdings in TKO Group were worth $65,911,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TKO. Amundi boosted its holdings in TKO Group by 338.7% during the 1st quarter. Amundi now owns 1,360 shares of the company’s stock valued at $205,000 after acquiring an additional 1,050 shares during the period. AQR Capital Management LLC increased its stake in TKO Group by 10.7% in the first quarter. AQR Capital Management LLC now owns 7,222 shares of the company’s stock worth $1,083,000 after purchasing an additional 696 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TKO Group by 4,722.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,777 shares of the company’s stock worth $1,341,000 after purchasing an additional 8,595 shares during the last quarter. United Services Automobile Association bought a new stake in shares of TKO Group during the first quarter worth $218,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of TKO Group by 127.7% during the first quarter. Geneos Wealth Management Inc. now owns 510 shares of the company’s stock valued at $78,000 after purchasing an additional 286 shares during the period. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

TKO Group Stock Down 0.5%

Shares of TKO Group stock opened at $184.75 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. TKO Group Holdings, Inc. has a 1 year low of $152.29 and a 1 year high of $226.94. The firm’s 50-day moving average is $196.38 and its two-hundred day moving average is $199.50. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 68.94 and a beta of 0.60.

TKO Group (NYSE:TKO) last posted its earnings results on Wednesday, May 6th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. TKO Group had a net margin of 4.47% and a return on equity of 2.49%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, research analysts expect that TKO Group Holdings, Inc. will post 4.95 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.79 per share. This is a boost from TKO Group’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, June 15th. TKO Group’s payout ratio is 117.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings upgraded shares of TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Zacks Research raised shares of TKO Group from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Guggenheim dropped their target price on shares of TKO Group from $232.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday. Roth Capital set a $228.00 target price on shares of TKO Group in a research report on Monday, May 4th. Finally, Wall Street Zen raised shares of TKO Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.07.

Insider Buying and Selling at TKO Group

In other TKO Group news, CFO Andrew M. Schleimer acquired 2,696 shares of TKO Group stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $185.44 per share, with a total value of $499,946.24. Following the completion of the purchase, the chief financial officer directly owned 30,240 shares of the company’s stock, valued at approximately $5,607,705.60. This represents a 9.79% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Nick Khan sold 9,589 shares of the company’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $182.63, for a total value of $1,751,239.07. Following the sale, the director owned 72,013 shares of the company’s stock, valued at approximately $13,151,734.19. This represents a 11.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders purchased 24,308 shares of company stock valued at $4,499,679 and sold 28,696 shares valued at $5,511,785. 64.30% of the stock is owned by company insiders.

About TKO Group

TKO Group Holdings (NYSE: TKO) is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO’s core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.