Munro Partners raised its holdings in shares of TKO Group Holdings, Inc. (NYSE:TKO – Free Report) by 24.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 712,256 shares of the company’s stock after purchasing an additional 139,600 shares during the period. TKO Group accounts for approximately 3.9% of Munro Partners’ investment portfolio, making the stock its 7th biggest holding. Munro Partners owned about 0.37% of TKO Group worth $148,862,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the business. State Street Corp increased its position in shares of TKO Group by 20.3% during the third quarter. State Street Corp now owns 5,249,091 shares of the company’s stock worth $1,060,106,000 after purchasing an additional 887,401 shares in the last quarter. Ninety One UK Ltd increased its position in shares of TKO Group by 0.8% in the 4th quarter. Ninety One UK Ltd now owns 5,006,158 shares of the company’s stock valued at $1,046,287,000 after acquiring an additional 42,156 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of TKO Group by 54.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,185,769 shares of the company’s stock valued at $665,826,000 after acquiring an additional 1,128,749 shares during the period. Geode Capital Management LLC increased its position in shares of TKO Group by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 1,855,077 shares of the company’s stock valued at $387,072,000 after acquiring an additional 49,486 shares during the period. Finally, UBS Group AG increased its position in shares of TKO Group by 31.7% in the 3rd quarter. UBS Group AG now owns 1,274,142 shares of the company’s stock valued at $257,326,000 after acquiring an additional 307,000 shares during the period. 89.79% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently issued reports on TKO shares. Roth Mkm set a $228.00 target price on TKO Group in a research report on Monday, May 4th. Sanford C. Bernstein cut their target price on TKO Group from $250.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. Pivotal Research upped their target price on TKO Group from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Wolfe Research reissued a “peer perform” rating on shares of TKO Group in a research report on Thursday, March 5th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $237.00 price target on shares of TKO Group in a report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, TKO Group has a consensus rating of “Moderate Buy” and an average target price of $233.73.
TKO Group Trading Down 1.2%
TKO stock opened at $200.92 on Tuesday. The company’s 50-day simple moving average is $193.67 and its 200-day simple moving average is $200.96. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. TKO Group Holdings, Inc. has a 52-week low of $152.29 and a 52-week high of $226.94. The firm has a market cap of $39.00 billion, a P/E ratio of 74.97 and a beta of 0.59.
TKO Group (NYSE:TKO – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. TKO Group had a net margin of 4.47% and a return on equity of 2.49%. TKO Group’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period last year, the company posted $0.69 EPS. As a group, equities analysts forecast that TKO Group Holdings, Inc. will post 4.96 EPS for the current fiscal year.
TKO Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $3.16 dividend on an annualized basis and a yield of 1.6%. This is a boost from TKO Group’s previous quarterly dividend of $0.78. TKO Group’s dividend payout ratio is 116.42%.
Insider Activity at TKO Group
In related news, CFO Andrew M. Schleimer purchased 2,696 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of $185.44 per share, with a total value of $499,946.24. Following the purchase, the chief financial officer owned 30,240 shares of the company’s stock, valued at $5,607,705.60. This represents a 9.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark S. Shapiro purchased 10,807 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $185.05 per share, for a total transaction of $1,999,835.35. Following the completion of the purchase, the insider directly owned 129,207 shares in the company, valued at $23,909,755.35. This represents a 9.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders bought 24,308 shares of company stock valued at $4,499,679. 64.30% of the stock is owned by corporate insiders.
About TKO Group
TKO Group Holdings (NYSE: TKO) is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.
TKO’s core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.
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