TKO Group (NYSE:TKO) Trading Down 7.8% - Here's What Happened

TKO Group Holdings, Inc. (NYSE:TKO - Get Free Report) shares dropped 7.8% during mid-day trading on Thursday . The company traded as low as $148.40 and last traded at $147.14. Approximately 707,630 shares traded hands during trading, a decline of 36% from the average daily volume of 1,100,386 shares. The stock had previously closed at $159.55.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TKO. JPMorgan Chase & Co. upped their price target on TKO Group from $137.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, December 12th. Guggenheim upped their target price on shares of TKO Group from $170.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on shares of TKO Group from $142.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. UBS Group upped their price objective on shares of TKO Group from $135.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on TKO Group from $128.00 to $160.00 and gave the stock an "equal weight" rating in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $157.00.

TKO Group Stock Performance

The stock has a fifty day moving average of $153.42 and a 200-day moving average of $135.55. The firm has a market capitalization of $25.21 billion, a P/E ratio of -351.52 and a beta of 1.06. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.34.

Remove Ads

TKO Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.03%. TKO Group's dividend payout ratio is currently 7,600.00%.

Insider Activity

In related news, major shareholder Patrick Whitesell bought 263,200 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $146.97 per share, with a total value of $38,682,504.00. Following the completion of the transaction, the insider now owns 418,587 shares in the company, valued at $61,519,731.39. The trade was a 169.38 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Shane Kapral sold 1,034 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $141.94, for a total value of $146,765.96. Following the transaction, the chief accounting officer now directly owns 2,225 shares of the company's stock, valued at $315,816.50. This trade represents a 31.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,498,297 shares of company stock worth $387,671,461 and have sold 71,457 shares worth $10,153,456. 53.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TKO Group

Several hedge funds and other institutional investors have recently made changes to their positions in TKO. Norges Bank acquired a new stake in TKO Group in the fourth quarter valued at $104,613,000. Ameriprise Financial Inc. raised its holdings in shares of TKO Group by 57.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,678,258 shares of the company's stock valued at $238,574,000 after purchasing an additional 611,178 shares during the period. Steadfast Capital Management LP lifted its stake in TKO Group by 146.9% in the 4th quarter. Steadfast Capital Management LP now owns 710,784 shares of the company's stock valued at $101,010,000 after purchasing an additional 422,900 shares during the last quarter. Moore Capital Management LP grew its holdings in TKO Group by 1,625.0% during the fourth quarter. Moore Capital Management LP now owns 418,286 shares of the company's stock worth $59,443,000 after purchasing an additional 394,038 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in TKO Group during the fourth quarter worth approximately $54,778,000. 89.79% of the stock is owned by institutional investors.

TKO Group Company Profile

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.