TKO Group Holdings, Inc. (NYSE:TKO) Announces $0.38 Quarterly Dividend

TKO Group Holdings, Inc. (NYSE:TKOGet Free Report) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.38 per share on Monday, March 31st. This represents a $1.52 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, March 14th.

TKO Group has a dividend payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect TKO Group to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 48.3%.

TKO Group Stock Down 4.9 %

Shares of TKO stock traded down $7.87 during trading hours on Thursday, hitting $151.68. 3,930,122 shares of the company were exchanged, compared to its average volume of 1,188,668. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50-day simple moving average is $153.00 and its two-hundred day simple moving average is $134.78. TKO Group has a one year low of $78.69 and a one year high of $179.09. The stock has a market capitalization of $25.90 billion, a price-to-earnings ratio of -361.13 and a beta of 1.06.

Insider Buying and Selling at TKO Group

In other news, major shareholder Patrick Whitesell bought 156,446 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were purchased at an average cost of $175.60 per share, with a total value of $27,471,917.60. Following the acquisition, the insider now directly owns 2,461,668 shares in the company, valued at $432,268,900.80. This represents a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew M. Schleimer sold 5,419 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $141.94, for a total transaction of $769,172.86. Following the completion of the sale, the chief financial officer now owns 6,995 shares in the company, valued at approximately $992,870.30. The trade was a 43.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 2,498,297 shares of company stock worth $387,671,461 and sold 71,457 shares worth $10,153,456. Corporate insiders own 53.80% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TKO. Guggenheim raised their price objective on shares of TKO Group from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday. Pivotal Research restated a “buy” rating and issued a $195.00 price target (up previously from $145.00) on shares of TKO Group in a research report on Thursday. Seaport Res Ptn lowered shares of TKO Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Citigroup raised their price objective on shares of TKO Group from $137.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Finally, Morgan Stanley raised their price objective on shares of TKO Group from $128.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.00.

Read Our Latest Analysis on TKO Group

TKO Group Company Profile

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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.

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