PNC Financial Services Group Inc. Acquires 125 Shares of TKO Group Holdings, Inc. (NYSE:TKO)

PNC Financial Services Group Inc. raised its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 3.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,364 shares of the company’s stock after buying an additional 125 shares during the period. PNC Financial Services Group Inc.’s holdings in TKO Group were worth $514,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TKO. Barings LLC increased its holdings in shares of TKO Group by 30.0% during the 1st quarter. Barings LLC now owns 12,139 shares of the company’s stock valued at $1,855,000 after acquiring an additional 2,801 shares during the last quarter. Commerce Bank lifted its holdings in TKO Group by 8.7% in the 1st quarter. Commerce Bank now owns 30,206 shares of the company’s stock worth $4,616,000 after purchasing an additional 2,422 shares during the last quarter. Hartford Investment Management Co. bought a new stake in TKO Group during the first quarter worth approximately $623,000. US Bancorp DE grew its holdings in TKO Group by 33.5% during the first quarter. US Bancorp DE now owns 754 shares of the company’s stock valued at $115,000 after purchasing an additional 189 shares during the last quarter. Finally, Natixis Advisors LLC raised its position in shares of TKO Group by 2.8% in the first quarter. Natixis Advisors LLC now owns 98,350 shares of the company’s stock valued at $15,029,000 after purchasing an additional 2,685 shares during the period. Institutional investors and hedge funds own 89.79% of the company’s stock.

Insider Buying and Selling at TKO Group

In other TKO Group news, Director Peter C. B. Bynoe acquired 980 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was bought at an average price of $169.59 per share, for a total transaction of $166,198.20. Following the purchase, the director owned 2,747 shares in the company, valued at $465,863.73. This represents a 55.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Lake West Voteco L.L.C Silver bought 1,579,080 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the transaction, the insider owned 4,158,517 shares in the company, valued at $658,376,411.44. This represents a 61.22% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 73,725 shares of company stock valued at $12,501,561 in the last 90 days. 61.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of TKO Group from $158.00 to $182.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Morgan Stanley reissued an “outperform” rating on shares of TKO Group in a research report on Sunday. Northcoast Research downgraded TKO Group from a “buy” rating to a “neutral” rating in a research report on Thursday, July 10th. Guggenheim lifted their price objective on TKO Group from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Roth Capital set a $210.00 target price on TKO Group and gave the company a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.15.

TKO Group Stock Up 2.9%

TKO stock opened at $191.45 on Thursday. TKO Group Holdings, Inc. has a twelve month low of $113.16 and a twelve month high of $191.51. The company has a market cap of $37.89 billion, a PE ratio of 79.11 and a beta of 0.72. The business’s 50-day simple moving average is $171.13 and its 200 day simple moving average is $161.32. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28.

TKO Group (NYSE:TKO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the business posted $0.72 EPS. TKO Group’s revenue was up 53.7% compared to the same quarter last year. On average, research analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, June 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. TKO Group’s payout ratio is currently 62.81%.

TKO Group 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.