TKO Group Holdings, Inc. $TKO Stock Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 9.3% in the third quarter, HoldingsChannel reports. The firm owned 54,091 shares of the company’s stock after selling 5,516 shares during the period. Cornerstone Advisors LLC’s holdings in TKO Group were worth $9,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cornerstone Planning Group LLC lifted 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 buying an additional 125 shares during the period. Ameritas Advisory Services LLC bought a new position in TKO Group during the second quarter worth about $43,000. Heritage Family Offices LLP acquired a new position in shares of TKO Group during the 3rd quarter worth about $44,000. AlphaCentric Advisors LLC acquired a new position in shares of TKO Group during the 1st quarter worth about $99,000. Finally, Allworth Financial LP increased its stake in shares of TKO Group by 12.2% in the 2nd quarter. Allworth Financial LP now owns 615 shares of the company’s stock valued at $124,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 89.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TKO shares. Sanford C. Bernstein increased their price target on shares of TKO Group from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. JPMorgan Chase & Co. decreased their price objective on shares of TKO Group from $225.00 to $222.00 and set an “overweight” rating for the company in a report on Tuesday, July 21st. Robert W. Baird lowered their target price on shares of TKO Group from $275.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, August 18th. Guggenheim upped their target price on shares of TKO Group from $228.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Finally, Morgan Stanley increased their target price on shares of TKO Group from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.29.

Insiders Place Their Bets

In related news, CEO Ariel Emanuel sold 24,702 shares of the 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 $4,801,821.78. Following the completion of the sale, the chief executive officer directly owned 174,334 shares of the company’s stock, valued at approximately $33,888,786.26. This represents a 12.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Nick Khan sold 9,189 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $175.19, for a total transaction of $1,609,820.91. Following the sale, the director owned 20,162 shares in the company, valued at $3,532,180.78. This trade represents a 31.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,736 shares of company stock valued at $16,907,349 in the last quarter. 64.30% of the stock is owned by company insiders.

TKO Group Stock Up 0.7%

NYSE:TKO opened at $195.35 on Friday. TKO Group Holdings, Inc. has a 1 year low of $170.14 and a 1 year high of $226.94. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.58. The stock has a market cap of $36.97 billion, a price-to-earnings ratio of 52.66 and a beta of 0.66. The stock has a 50-day moving average price of $183.79 and a two-hundred day moving average price of $192.97.

TKO Group (NYSE:TKO) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.13. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.38 billion. TKO Group had a return on equity of 3.35% and a net margin of 5.19%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. As a group, equities analysts expect that TKO Group Holdings, Inc. will post 7.04 earnings per share for the current year.

TKO Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a $0.79 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $3.16 annualized dividend and a dividend yield of 1.6%. TKO Group’s payout ratio is currently 85.18%.

About TKO Group

TKO Group Holdings, Inc. is a global sports and entertainment company whose principal properties are UFC, the mixed martial arts organization, and WWE, the professional wrestling and sports entertainment company. TKO was formed in 2023 when Endeavor combined UFC and WWE under a single publicly traded company. The company generates business through live events and ticket sales, media and streaming rights, sponsorships, licensing, and consumer products. UFC and WWE produce programming and events for audiences worldwide, alongside related digital content and merchandise.