Principal Financial Group Inc. Cuts Stake in TKO Group Holdings, Inc. $TKO

Principal Financial Group Inc. lessened its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 15.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 326,857 shares of the company’s stock after selling 57,541 shares during the quarter. Principal Financial Group Inc. owned approximately 0.17% of TKO Group worth $65,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Elyxium Wealth LLC purchased a new position in TKO Group during the fourth quarter valued at $27,000. Torren Management LLC purchased a new stake in TKO Group in the 4th quarter worth $32,000. CYBER HORNET ETFs LLC bought a new position in shares of TKO Group during the 2nd quarter valued at about $34,000. Aventura Private Wealth LLC bought a new position in shares of TKO Group during the 4th quarter valued at about $35,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of TKO Group during the second quarter valued at about $36,000. Institutional investors own 89.79% of the company’s stock.

Analyst Ratings Changes

TKO has been the subject of several research analyst reports. Zacks Research upgraded TKO Group from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Guggenheim decreased their price objective on TKO Group from $232.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday. BTIG Research reiterated a “buy” rating and set a $237.00 target price on shares of TKO Group in a research report on Thursday, May 7th. Weiss Ratings upgraded TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, May 7th. Finally, Sanford C. Bernstein cut their target price on shares of TKO Group from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, TKO Group presently has a consensus rating of “Moderate Buy” and an average target price of $234.07.

TKO Group Stock Down 0.5%

Shares of NYSE TKO opened at $184.75 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57. TKO Group Holdings, Inc. has a 12-month low of $152.29 and a 12-month high of $226.94. The firm’s 50-day moving average price is $196.38 and its 200-day moving average price is $199.50. The stock has a market capitalization of $35.86 billion, a price-to-earnings ratio of 68.94 and a beta of 0.60.

TKO Group (NYSE:TKO) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. TKO Group had a return on equity of 2.49% and a net margin of 4.47%.The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the business posted $0.69 earnings per share. The firm’s revenue was up 25.9% on a year-over-year basis. On average, equities research analysts anticipate that TKO Group Holdings, Inc. will post 4.95 EPS for the current fiscal year.

TKO Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.79 dividend. This is a positive change from TKO Group’s previous quarterly dividend of $0.78. The ex-dividend date 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 presently 117.91%.

Insider Buying and Selling

In other news, CEO Ariel Emanuel acquired 10,805 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $185.09 per share, with a total value of $1,999,897.45. Following the completion of the purchase, the chief executive officer directly owned 154,655 shares of the company’s stock, valued at $28,625,093.95. This represents a 7.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew M. Schleimer acquired 2,696 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $185.44 per share, with a total value of $499,946.24. Following the completion of the purchase, the chief financial officer directly owned 30,240 shares of the company’s stock, valued at $5,607,705.60. This trade represents a 9.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have bought 24,308 shares of company stock worth $4,499,679 and have sold 28,696 shares worth $5,511,785. 64.30% of the stock is currently owned by company insiders.

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.