PNC Financial Services Group Inc. Buys 1,685 Shares of TKO Group Holdings, Inc. $TKO

PNC Financial Services Group Inc. boosted its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 50.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,049 shares of the company’s stock after purchasing an additional 1,685 shares during the period. PNC Financial Services Group Inc.’s holdings in TKO Group were worth $919,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TKO. Hemington Wealth Management increased its holdings 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 buying an additional 136 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of TKO Group by 350.0% during the 2nd quarter. Whittier Trust Co. now owns 135 shares of the company’s stock valued at $25,000 after acquiring an additional 105 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in TKO Group during the 1st quarter worth $26,000. Golden State Wealth Management LLC grew its position in TKO Group by 840.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 141 shares of the company’s stock worth $26,000 after acquiring an additional 126 shares during the last quarter. Finally, Eastern Bank acquired a new position in TKO Group in the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 89.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TKO. Morgan Stanley lifted their price target on TKO Group from $165.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, September 25th. Susquehanna reiterated a “positive” rating and issued a $229.00 price objective on shares of TKO Group in a report on Thursday, November 6th. Pivotal Research boosted their target price on shares of TKO Group from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Seaport Res Ptn upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Finally, Guggenheim lifted their price target on shares of TKO Group from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, TKO Group presently has an average rating of “Moderate Buy” and a consensus price target of $222.23.

Insider Buying and Selling at TKO Group

In other TKO Group news, Director Nick Khan sold 9,519 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $188.26, for a total transaction of $1,792,046.94. Following the completion of the sale, the director directly owned 118,504 shares in the company, valued at approximately $22,309,563.04. This trade represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. B. Bynoe acquired 740 shares of the company’s stock in a transaction dated Tuesday, September 16th. The stock was acquired at an average cost of $203.00 per share, for a total transaction of $150,220.00. Following the completion of the purchase, the director directly owned 5,187 shares in the company, valued at $1,052,961. This trade represents a 16.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 28,811 shares of company stock valued at $5,496,347. 61.30% of the stock is currently owned by insiders.

TKO Group Stock Performance

Shares of TKO stock opened at $178.13 on Friday. The stock has a market capitalization of $34.75 billion, a PE ratio of 73.61 and a beta of 0.72. The business’s 50 day simple moving average is $190.68 and its 200 day simple moving average is $179.36. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30. TKO Group Holdings, Inc. has a one year low of $133.07 and a one year high of $212.49.

TKO Group (NYSE:TKO) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.11). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was down 27.3% on a year-over-year basis. TKO Group has set its FY 2025 guidance at EPS. As a group, research analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.76 dividend. The ex-dividend date was Monday, September 15th. This is a positive change from TKO Group’s previous quarterly dividend of $0.38. This represents a $3.04 annualized dividend and a yield of 1.7%. TKO Group’s dividend payout ratio (DPR) is presently 116.48%.

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

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.