Marathon Partners Equity Management LLC Acquires New Position in TKO Group Holdings, Inc. (NYSE:TKO)

Marathon Partners Equity Management LLC bought a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 114,000 shares of the company’s stock, valued at approximately $16,201,000. TKO Group comprises 14.1% of Marathon Partners Equity Management LLC’s investment portfolio, making the stock its 2nd largest holding.

Several other hedge funds have also recently modified their holdings of TKO. Moore Capital Management LP boosted its holdings in shares of TKO Group by 1,625.0% in the fourth quarter. Moore Capital Management LP now owns 418,286 shares of the company’s stock worth $59,443,000 after buying an additional 394,038 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in TKO Group during the fourth quarter valued at $2,585,000. Jefferies Financial Group Inc. bought a new stake in TKO Group during the fourth quarter valued at about $500,000. Ensign Peak Advisors Inc increased its position in TKO Group by 13.4% in the fourth quarter. Ensign Peak Advisors Inc now owns 26,710 shares of the company’s stock worth $3,796,000 after buying an additional 3,160 shares in the last quarter. Finally, Ethic Inc. raised its stake in shares of TKO Group by 148.4% in the fourth quarter. Ethic Inc. now owns 7,624 shares of the company’s stock worth $1,083,000 after buying an additional 4,555 shares during the period. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on TKO Group from $128.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. The Goldman Sachs Group upped their target price on shares of TKO Group from $170.00 to $188.00 and gave the stock a “buy” rating in a report on Monday. Seaport Res Ptn upgraded TKO Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Benchmark reissued a “hold” rating on shares of TKO Group in a report on Monday, March 3rd. Finally, Guggenheim increased their price objective on shares of TKO Group from $175.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.25.

Insiders Place Their Bets

In other news, Director Sonya E. Medina acquired 233 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were purchased at an average price of $142.93 per share, for a total transaction of $33,302.69. Following the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $285,860. This represents a 13.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ariel Emanuel purchased 117,769 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was acquired at an average cost of $175.40 per share, with a total value of $20,656,682.60. Following the transaction, the chief executive officer now directly owns 2,579,437 shares in the company, valued at $452,433,249.80. This trade represents a 4.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 141,502 shares of company stock valued at $24,218,000 in the last three months. 61.30% of the stock is currently owned by insiders.

TKO Group Trading Up 0.3%

Shares of NYSE:TKO opened at $160.17 on Tuesday. The stock has a market cap of $27.42 billion, a price-to-earnings ratio of -381.35 and a beta of 0.73. TKO Group Holdings, Inc. has a 52-week low of $98.99 and a 52-week high of $179.09. The business has a 50-day moving average price of $151.62 and a 200-day moving average price of $146.45. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

TKO Group (NYSE:TKO) last posted its earnings results on Thursday, May 8th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. TKO Group had a positive return on equity of 3.39% and a negative net margin of 1.26%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned ($1.26) EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts predict that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, March 14th. TKO Group’s dividend payout ratio is currently 77.16%.

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.