Public Employees Retirement System of Ohio Takes Position in TKO Group Holdings, Inc. $TKO

Public Employees Retirement System of Ohio purchased a new stake in TKO Group Holdings, Inc. (NYSE:TKO) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 48,175 shares of the company’s stock, valued at approximately $9,698,000.

A number of other large investors have also recently bought and sold shares of the business. Elyxium Wealth LLC purchased a new position in TKO Group during the 4th quarter worth $27,000. Cornerstone Planning Group LLC increased its stake in TKO Group by 543.5% in the first quarter. Cornerstone Planning Group LLC now owns 148 shares of the company’s stock valued at $28,000 after purchasing an additional 125 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in shares of TKO Group in the second quarter valued at about $34,000. MUFG Securities EMEA plc purchased a new stake in shares of TKO Group in the second quarter valued at about $36,000. Finally, Clearstead Advisors LLC boosted its stake in shares of TKO Group by 234.0% during the fourth quarter. Clearstead Advisors LLC now owns 177 shares of the company’s stock worth $37,000 after buying an additional 124 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

TKO Group Stock Down 1.0%

Shares of NYSE:TKO opened at $182.78 on Tuesday. TKO Group Holdings, Inc. has a fifty-two week low of $176.00 and a fifty-two week high of $226.94. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $190.82 and its 200-day simple moving average is $195.68. The company has a market cap of $34.59 billion, a price-to-earnings ratio of 64.13 and a beta of 0.63.

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

TKO Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.79 per share. This is a positive change from TKO Group’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.7%. TKO Group’s dividend payout ratio (DPR) is currently 110.88%.

Insiders Place Their Bets

In related news, Director Nick Khan sold 12,998 shares of the company’s stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $181.11, for a total transaction of $2,354,067.78. Following the transaction, the director owned 48,933 shares of the company’s stock, valued at $8,862,255.63. This represents a 20.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew M. Schleimer sold 9,942 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $194.39, for a total value of $1,932,625.38. Following the completion of the transaction, the chief financial officer owned 38,051 shares of the company’s stock, valued at $7,396,733.89. The trade was a 20.72% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 120,404 shares of company stock valued at $23,196,582. Corporate insiders own 64.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TKO. Morgan Stanley raised their price target on TKO Group from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Benchmark reaffirmed a “hold” rating on shares of TKO Group in a research note on Tuesday, August 4th. Sanford C. Bernstein lowered their target price on TKO Group from $240.00 to $235.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Roth Capital reiterated a “buy” rating and issued a $230.00 target price on shares of TKO Group in a research note on Tuesday, August 4th. Finally, Wall Street Zen raised TKO Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, TKO Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $238.08.

TKO Group Profile

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.