Insider Selling: TKO Group (NYSE:TKO) Insider Sells $3,716,736.80 in Stock

TKO Group Holdings, Inc. (NYSE:TKO) insider Mark Shapiro sold 19,120 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $194.39, for a total transaction of $3,716,736.80. Following the sale, the insider directly owned 147,071 shares of the company’s stock, valued at approximately $28,589,131.69. This trade represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

TKO Group Price Performance

Shares of NYSE TKO traded up $9.84 during trading hours on Wednesday, hitting $201.95. 949,299 shares of the stock were exchanged, compared to its average volume of 1,093,496. The company’s fifty day simple moving average is $192.69 and its two-hundred day simple moving average is $196.66. The company has a market cap of $38.22 billion, a PE ratio of 70.86 and a beta of 0.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.28 and a current ratio of 1.28. TKO Group Holdings, Inc. has a 1-year low of $176.00 and a 1-year high of $226.94.

TKO Group (NYSE:TKO) last announced its quarterly earnings data on Monday, August 3rd. The company reported $1.34 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.07). TKO Group had a net margin of 4.33% and a return on equity of 2.67%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, sell-side analysts predict that TKO Group Holdings, Inc. will post 5.18 EPS for the current year.

TKO Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 15th. This is a positive change from TKO Group’s previous quarterly dividend of $0.78. TKO Group’s dividend payout ratio is 110.88%.

Hedge Funds Weigh In On TKO Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Vontobel Holding Ltd. increased its stake in shares of TKO Group by 108,668.4% in the fourth quarter. Vontobel Holding Ltd. now owns 1,268,239 shares of the company’s stock valued at $265,062,000 after buying an additional 1,267,073 shares during the period. State Street Corp raised its position in shares of TKO Group by 20.3% during the third quarter. State Street Corp now owns 5,249,091 shares of the company’s stock worth $1,060,106,000 after acquiring an additional 887,401 shares during the last quarter. Norges Bank acquired a new position in shares of TKO Group in the fourth quarter worth approximately $150,602,000. Alliancebernstein L.P. lifted its stake in shares of TKO Group by 551.8% in the second quarter. Alliancebernstein L.P. now owns 494,964 shares of the company’s stock worth $90,059,000 after acquiring an additional 419,021 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in TKO Group by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,373,243 shares of the company’s stock valued at $496,008,000 after acquiring an additional 395,040 shares during the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen raised TKO Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Sanford C. Bernstein lowered their target price on TKO Group from $240.00 to $235.00 and set an “outperform” rating for the company in a research note on Tuesday, July 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of TKO Group in a report on Tuesday, August 4th. Roth Capital restated a “buy” rating and issued a $230.00 price target on shares of TKO Group in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. decreased their price target on shares of TKO Group from $225.00 to $222.00 and set an “overweight” rating on the stock in a report on Tuesday, July 21st. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.08.

About TKO Group

TKO Group Holdings (NYSE: TKO) is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO’s core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.