Allspring Global Investments Holdings LLC Decreases Position in TKO Group Holdings, Inc. $TKO

Allspring Global Investments Holdings LLC trimmed its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 2.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 678,345 shares of the company’s stock after selling 17,454 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TKO Group were worth $136,395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TKO. Wealthfront Advisers LLC boosted its stake in TKO Group by 4.0% during the first quarter. Wealthfront Advisers LLC now owns 2,324 shares of the company’s stock worth $469,000 after buying an additional 89 shares during the period. Fifth Third Bancorp raised its stake in shares of TKO Group by 1,175.1% in the first quarter. Fifth Third Bancorp now owns 15,951 shares of the company’s stock valued at $3,217,000 after acquiring an additional 14,700 shares during the period. Summit Securities Group LLC raised its stake in shares of TKO Group by 211.1% in the first quarter. Summit Securities Group LLC now owns 308 shares of the company’s stock valued at $62,000 after acquiring an additional 209 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of TKO Group by 13.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,893 shares of the company’s stock worth $785,000 after acquiring an additional 463 shares during the last quarter. Finally, HB Wealth Management LLC lifted its holdings in shares of TKO Group by 16.0% in the 1st quarter. HB Wealth Management LLC now owns 2,547 shares of the company’s stock worth $514,000 after acquiring an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

TKO Group Price Performance

TKO opened at $184.75 on Friday. TKO Group Holdings, Inc. has a 12-month low of $152.29 and a 12-month high of $226.94. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $196.38 and its 200-day simple moving average is $199.50. The company 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 data on Wednesday, May 6th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. TKO Group had a return on equity of 2.49% and a net margin of 4.47%.The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. On average, equities research analysts anticipate that TKO Group Holdings, Inc. will post 4.95 earnings per share for the current fiscal year.

TKO Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given 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 yield of 1.7%. TKO Group’s payout ratio is 117.91%.

Wall Street Analyst Weigh In

Several brokerages recently commented on TKO. Citizens Jmp initiated coverage on shares of TKO Group in a report on Monday, March 30th. They set a “mkt outperform” rating and a $240.00 price target on the stock. Guggenheim decreased their price objective on shares of TKO Group from $232.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday. Sanford C. Bernstein decreased their price objective on shares of TKO Group from $250.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Weiss Ratings raised TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Finally, Roth Capital set a $228.00 target price on TKO Group in a research note on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $234.07.

Insider Buying and Selling at TKO Group

In other TKO Group news, CEO Ariel Emanuel purchased 10,805 shares of TKO Group stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average price of $185.09 per share, for a total transaction of $1,999,897.45. Following the acquisition, the chief executive officer owned 154,655 shares in the company, valued at $28,625,093.95. This trade represents a 7.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew M. Schleimer purchased 2,696 shares of the stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $185.44 per share, with a total value of $499,946.24. Following the transaction, the chief financial officer directly owned 30,240 shares in the company, valued at approximately $5,607,705.60. This trade represents a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders acquired 24,308 shares of company stock worth $4,499,679 and sold 28,696 shares worth $5,511,785. Company insiders own 64.30% of the company’s stock.

TKO Group Company 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.