Nick Khan Sells 9,519 Shares of TKO Group (NYSE:TKO) Stock

TKO Group Holdings, Inc. (NYSE:TKO) Director Nick Khan sold 9,519 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $195.16, for a total transaction of $1,857,728.04. Following the completion of the transaction, the director owned 108,985 shares of the company’s stock, valued at approximately $21,269,512.60. This trade represents a 8.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

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

TKO Group Price Performance

Shares of NYSE:TKO opened at $202.10 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.46 and a current ratio of 1.46. TKO Group Holdings, Inc. has a 52 week low of $133.07 and a 52 week high of $212.49. The firm has a market cap of $39.43 billion, a PE ratio of 77.43 and a beta of 0.65. The firm’s fifty day moving average is $189.36 and its 200-day moving average is $181.53.

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

TKO Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors 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 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, December 15th. TKO Group’s payout ratio is presently 116.48%.

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

Institutional Trading of TKO Group

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in TKO Group by 19.4% in the first quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company’s stock worth $1,218,951,000 after acquiring an additional 1,295,817 shares in the last quarter. Invesco Ltd. raised its position in shares of TKO Group by 569.7% during the first quarter. Invesco Ltd. now owns 1,423,052 shares of the company’s stock worth $217,457,000 after purchasing an additional 1,210,563 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of TKO Group by 242.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company’s stock worth $228,675,000 after purchasing an additional 1,059,636 shares in the last quarter. State Street Corp grew its position in TKO Group by 20.3% in the 3rd quarter. State Street Corp now owns 5,249,091 shares of the company’s stock valued at $1,060,106,000 after purchasing an additional 887,401 shares during the period. Finally, Norges Bank bought a new stake in TKO Group during the 2nd quarter valued at $132,441,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TKO has been the topic of a number of recent analyst reports. Roth Capital boosted their price target on shares of TKO Group from $208.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Zacks Research lowered shares of TKO Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Morgan Stanley upped their price target on shares of TKO Group from $165.00 to $205.00 and gave the company an “equal weight” rating in a research report on Thursday, September 25th. Arete Research raised TKO Group to a “hold” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of TKO Group in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.85.

TKO Group Company 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.