TKO Group Holdings, Inc. $TKO Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its holdings in TKO Group Holdings, Inc. (NYSE:TKO) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,128 shares of the company’s stock after selling 2,558 shares during the period. Allianz Asset Management GmbH’s holdings in TKO Group were worth $7,665,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hemington Wealth Management increased its position in shares of TKO Group by 425.0% in the first quarter. Hemington Wealth Management now owns 168 shares of the company’s stock worth $25,000 after acquiring an additional 136 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of TKO Group in the first quarter worth $26,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of TKO Group in the first quarter worth $27,000. Eastern Bank acquired a new stake in shares of TKO Group in the second quarter worth $34,000. Finally, Farther Finance Advisors LLC increased its position in shares of TKO Group by 129.8% in the first quarter. Farther Finance Advisors LLC now owns 216 shares of the company’s stock worth $33,000 after acquiring an additional 122 shares in the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TKO shares. UBS Group upped their target price 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. Zacks Research upgraded shares of TKO Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Northcoast Research downgraded shares of TKO Group from a “buy” rating to a “neutral” rating in a research note on Thursday, July 10th. Roth Capital upped their target price on shares of TKO Group from $208.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TKO Group in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, TKO Group currently has an average rating of “Moderate Buy” and an average price target of $210.21.

Insiders Place Their Bets

In other TKO Group news, Director Nick Khan sold 9,519 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $186.43, for a total transaction of $1,774,627.17. Following the transaction, the director directly owned 137,456 shares in the company, valued at $25,625,922.08. This represents a 6.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter C. B. Bynoe acquired 740 shares of TKO Group stock in a transaction on Tuesday, September 16th. The shares were bought at an average price 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. The trade was a 16.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 53.80% of the company’s stock.

TKO Group Trading Down 0.3%

NYSE TKO opened at $186.18 on Wednesday. TKO Group Holdings, Inc. has a 12 month low of $114.01 and a 12 month high of $212.49. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $36.92 billion, a price-to-earnings ratio of 76.93 and a beta of 0.76. The company’s fifty day moving average price is $193.15 and its two-hundred day moving average price is $174.10.

TKO Group (NYSE:TKO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). TKO Group had a net margin of 5.40% and a return on equity of 2.82%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company earned $0.72 earnings per share. The company’s revenue was up 53.7% compared to the same quarter last year. As a group, research analysts predict that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.76 per share. This is a positive change from TKO Group’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, September 15th. This represents a $3.04 dividend on an annualized basis and a yield of 1.6%. TKO Group’s payout ratio is currently 125.62%.

TKO Group announced that its Board of Directors has authorized a share buyback program on Monday, September 15th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.