TKO Group (NYSE:TKO) Stock Price Down 7.8% – Should You Sell?

Shares of TKO Group Holdings, Inc. (NYSE:TKO) dropped 7.8% during trading on Thursday . The company traded as low as $148.40 and last traded at $147.14. Approximately 707,630 shares changed hands during mid-day 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

TKO has been the subject of a number of recent analyst reports. UBS Group increased their price target on shares of TKO Group from $135.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group increased their price objective on shares of TKO Group from $142.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Seaport Res Ptn lowered shares of TKO Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Guggenheim increased their price objective on shares of TKO Group from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Morgan Stanley increased their price objective on shares of TKO Group from $128.00 to $160.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.00.

TKO Group Trading Up 0.2 %

The firm’s 50-day moving average is $153.30 and its 200 day moving average is $135.11. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $25.71 billion, a price-to-earnings ratio of -358.40 and a beta of 1.06.

TKO Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Friday, March 14th. This represents a $1.52 annualized dividend and a yield of 1.01%. TKO Group’s payout ratio is -28.57%.

Insiders Place Their Bets

In related news, major shareholder Patrick Whitesell acquired 31,352 shares of the stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $142.03 per share, for a total transaction of $4,452,924.56. Following the purchase, the insider now directly owns 1,674,322 shares of the company’s stock, valued at $237,803,953.66. The trade was a 1.91 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ariel Emanuel acquired 117,769 shares of the stock in a transaction dated Wednesday, February 12th. The stock was bought at an average price of $175.40 per share, with a total value of $20,656,682.60. Following the purchase, the chief executive officer now directly owns 2,579,437 shares in the company, valued at $452,433,249.80. This represents a 4.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 2,498,297 shares of company stock worth $387,671,461 and sold 71,457 shares worth $10,153,456. Company insiders own 53.80% of the company’s stock.

Institutional Trading of TKO Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in TKO Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 6,681,087 shares of the company’s stock worth $949,449,000 after acquiring an additional 114,096 shares during the last quarter. Ninety One UK Ltd boosted its holdings in TKO Group by 4.1% during the 4th quarter. Ninety One UK Ltd now owns 4,151,608 shares of the company’s stock worth $589,985,000 after acquiring an additional 163,980 shares during the last quarter. Independent Franchise Partners LLP boosted its holdings in TKO Group by 7.4% during the 4th quarter. Independent Franchise Partners LLP now owns 3,409,140 shares of the company’s stock worth $484,473,000 after acquiring an additional 235,420 shares during the last quarter. State Street Corp boosted its holdings in TKO Group by 10.4% during the 3rd quarter. State Street Corp now owns 2,052,916 shares of the company’s stock worth $253,966,000 after acquiring an additional 192,602 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in TKO Group by 2.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,752,496 shares of the company’s stock worth $249,047,000 after acquiring an additional 47,768 shares during the last quarter. Institutional investors own 89.79% of the company’s stock.

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.