TKO Group Holdings, Inc. $TKO Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in TKO Group Holdings, Inc. (NYSE:TKO) by 9.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 394,420 shares of the company’s stock after selling 39,040 shares during the quarter. Bank of New York Mellon Corp’s holdings in TKO Group were worth $79,535,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TKO. Elyxium Wealth LLC acquired a new stake in shares of TKO Group during the fourth quarter worth $27,000. Torren Management LLC purchased a new position in TKO Group in the 4th quarter valued at $32,000. Aventura Private Wealth LLC acquired a new position in TKO Group in the 4th quarter valued at $35,000. Clearstead Advisors LLC increased its stake in TKO Group by 234.0% in the 4th quarter. Clearstead Advisors LLC now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 124 shares during the period. Finally, IFC & Insurance Marketing Inc. purchased a new position in TKO Group during the 4th quarter worth $38,000. Institutional investors and hedge funds own 89.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TKO. Wall Street Zen raised TKO Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Roth Capital set a $228.00 target price on TKO Group in a research note on Monday, May 4th. Guggenheim reduced their price target on TKO Group from $232.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Weiss Ratings upgraded TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Finally, Citizens Jmp assumed coverage on TKO Group in a report on Monday, March 30th. They set a “mkt outperform” rating and a $240.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, TKO Group presently has a consensus rating of “Moderate Buy” and an average price target of $233.87.

TKO Group Stock Performance

NYSE:TKO opened at $181.81 on Wednesday. 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 company has a market capitalization of $35.29 billion, a P/E ratio of 67.84 and a beta of 0.60. The firm has a 50-day moving average price of $196.27 and a two-hundred day moving average price of $198.87. TKO Group Holdings, Inc. has a twelve month low of $152.29 and a twelve month high of $226.94.

TKO Group (NYSE:TKO) last announced its earnings results on Wednesday, May 6th. The company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.59 billion. TKO Group had a return on equity of 2.49% and a net margin of 4.47%.TKO Group’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. As a group, research analysts expect that TKO Group Holdings, Inc. will post 4.94 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. Investors of record on Monday, June 15th were paid a $0.79 dividend. The ex-dividend date was Monday, June 15th. This is an increase from TKO Group’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a yield of 1.7%. TKO Group’s payout ratio is currently 117.91%.

Insiders Place Their Bets

In other TKO Group news, CFO Andrew M. Schleimer purchased 2,696 shares of the firm’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 purchase, the chief financial officer owned 30,240 shares in the company, valued at approximately $5,607,705.60. This represents a 9.79% increase in their ownership of the stock. The transaction was disclosed in a 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, Director Nick Khan sold 9,589 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $182.63, for a total transaction of $1,751,239.07. Following the completion of the sale, the director owned 72,013 shares of the company’s stock, valued at approximately $13,151,734.19. The trade was a 11.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have bought 24,308 shares of company stock valued at $4,499,679 and have sold 28,696 shares valued at $5,511,785. 64.30% of the stock is currently owned by 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.