State of Wyoming Acquires New Stake in TKO Group Holdings, Inc. $TKO

State of Wyoming bought a new position in TKO Group Holdings, Inc. (NYSE:TKO) in the second quarter, Holdings Channel.com reports. The fund bought 3,977 shares of the company’s stock, valued at approximately $724,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TKO. Whittier Trust Co. raised its stake in shares of TKO Group by 350.0% in the 2nd quarter. Whittier Trust Co. now owns 135 shares of the company’s stock worth $25,000 after buying an additional 105 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in TKO Group by 840.0% during the second quarter. Golden State Wealth Management LLC now owns 141 shares of the company’s stock valued at $26,000 after buying an additional 126 shares in the last quarter. Eastern Bank acquired a new position in TKO Group during the second quarter worth about $34,000. CYBER HORNET ETFs LLC bought a new stake in TKO Group in the second quarter worth about $34,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in TKO Group in the 2nd quarter valued at about $36,000. 89.79% of the stock is owned by institutional investors.

TKO Group Trading Up 1.7%

TKO Group stock opened at $207.80 on Monday. TKO Group Holdings, Inc. has a 52 week low of $133.07 and a 52 week high of $212.49. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market capitalization of $40.54 billion, a price-to-earnings ratio of 79.62 and a beta of 0.65. The company has a 50 day moving average price of $189.53 and a 200 day moving average price of $183.23.

TKO Group (NYSE:TKO) last released 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). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.12 billion. TKO Group had a net margin of 5.27% and a return on equity of 2.57%. TKO Group’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.28 EPS. Research analysts forecast that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Increases Dividend

The business also recently disclosed 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 represents a $3.12 annualized dividend and a yield of 1.5%. This is a boost from TKO Group’s previous quarterly dividend of $0.76. TKO Group’s dividend payout ratio (DPR) is currently 116.48%.

TKO Group declared that its board has approved a share repurchase program on Monday, September 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of TKO Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, September 17th. Weiss Ratings restated a “hold (c)” rating on shares of TKO Group in a research report on Monday, December 8th. Cowen reiterated a “buy” rating on shares of TKO Group in a research report on Monday, December 8th. Susquehanna raised their price objective on TKO Group from $229.00 to $230.00 and gave the stock a “positive” rating in a research note on Wednesday. Finally, Zacks Research lowered TKO Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Two 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $224.50.

Insiders Place Their Bets

In related news, Director Nick Khan sold 9,519 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $195.16, for a total transaction of $1,857,728.04. Following the completion of the sale, the director directly owned 108,985 shares in the company, valued at approximately $21,269,512.60. This trade represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shane Kapral sold 254 shares of TKO Group stock in a transaction on Monday, December 8th. The shares were sold at an average price of $202.41, for a total value of $51,412.14. Following the sale, the chief financial officer directly owned 1,520 shares of the company’s stock, valued at approximately $307,663.20. The trade was a 14.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,573 shares of company stock worth $5,725,130 in the last quarter. 53.80% of the stock is currently owned by corporate insiders.

About TKO Group

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.