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

TKO Group Holdings, Inc. (NYSE:TKO) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors 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 is Friday, March 14th.

TKO Group has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 %

NYSE TKO traded down $7.87 on Thursday, reaching $151.68. 3,930,122 shares of the stock traded hands, 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 company has a fifty day moving average price of $153.00 and a 200-day moving average price of $134.78. The company has a market cap of $25.90 billion, a price-to-earnings ratio of -361.13 and a beta of 1.06. TKO Group has a 12 month low of $78.69 and a 12 month high of $179.09.

Wall Street Analysts Forecast Growth

TKO has been the topic of several research analyst reports. Morgan Stanley boosted their target price on TKO Group from $128.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday. UBS Group upped their price target on TKO Group from $135.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Guggenheim increased their target price on TKO Group from $170.00 to $175.00 and gave the company a “buy” rating in a report on Thursday. 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 report on Thursday, December 12th. Finally, Seaport Res Ptn lowered TKO Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, TKO Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Insiders Place Their Bets

In other news, major shareholder Patrick Whitesell purchased 156,446 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were acquired at an average price of $175.60 per share, with a total value of $27,471,917.60. Following the purchase, the insider now directly owns 2,461,668 shares of the company’s stock, valued at $432,268,900.80. The trade was a 6.79 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ariel Emanuel purchased 60,208 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $143.73 per share, for a total transaction of $8,653,695.84. Following the purchase, the chief executive officer now directly owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. This represents a 3.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 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 currently owned by insiders.

About TKO Group

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.