TKO Group Holdings, Inc. $TKO Shares Sold by Boothbay Fund Management LLC

by · The Cerbat Gem

Boothbay Fund Management LLC lowered its position in shares of TKO Group Holdings, Inc. (NYSE:TKO – Free Report) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,490 shares of the company’s stock after selling 3,776 shares during the quarter. Boothbay Fund Management LLC’s holdings in TKO Group were worth $8,823,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of TKO Group by 242.6% during 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 buying an additional 1,059,636 shares during the last quarter. Norges Bank purchased a new stake in TKO Group during the second quarter valued at about $132,441,000. Ninety One UK Ltd increased its stake in TKO Group by 14.4% during the second quarter. Ninety One UK Ltd now owns 4,850,006 shares of the company’s stock worth $882,459,000 after acquiring an additional 611,233 shares during the last quarter. Congress Asset Management Co. purchased a new position in shares of TKO Group in the 2nd quarter worth about $82,056,000. Finally, Alliancebernstein L.P. raised its holdings in shares of TKO Group by 551.8% in the 2nd quarter. Alliancebernstein L.P. now owns 494,964 shares of the company’s stock worth $90,059,000 after purchasing an additional 419,021 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Sanford C. Bernstein boosted their target price on TKO Group from $190.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of TKO Group in a research report on Monday. Baird R W upgraded shares of TKO Group to a “strong-buy” rating in a report on Friday, September 5th. UBS Group boosted their price objective on shares of TKO Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Finally, Cowen restated a “buy” rating on shares of TKO Group in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, TKO Group has an average rating of “Moderate Buy” and an average target price of $224.50.

Get Our Latest Analysis on TKO Group

TKO Group Trading Up 1.7%

NYSE TKO opened at $207.80 on Friday. TKO Group Holdings, Inc. has a 12 month low of $133.07 and a 12 month high of $212.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $40.54 billion, a price-to-earnings ratio of 79.62 and a beta of 0.65. The company’s fifty day moving average price is $189.53 and its two-hundred day moving average price is $182.89.

TKO Group (NYSE:TKO – Get Free Report) last issued its 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 net margin of 5.27% and a return on equity of 2.57%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company posted $0.28 EPS. The business’s revenue for the quarter was down 27.3% 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 announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $0.78 dividend. The ex-dividend date is Monday, December 15th. 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 yield of 1.5%. TKO Group’s payout ratio is presently 116.48%.

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

Insider Buying and Selling at TKO Group

In related news, Director Peter C. B. Bynoe bought 740 shares of the stock in a transaction dated Tuesday, September 16th. The stock was bought at an average cost of $203.00 per share, with a total value of $150,220.00. Following the completion of the acquisition, the director owned 5,187 shares of the company’s stock, valued at $1,052,961. This trade represents a 16.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shane Kapral sold 254 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $202.41, for a total value of $51,412.14. Following the sale, the chief financial officer owned 1,520 shares in the company, valued at $307,663.20. The trade was a 14.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,573 shares of company stock worth $5,725,130 over the last ninety days. Company insiders own 61.30% of the company’s stock.

About TKO Group

(Free Report)

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.

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