Hawk Ridge Capital Management LP lifted its position in TKO Group Holdings, Inc. (NYSE:TKO – Free Report) by 16.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 413,641 shares of the company’s stock after acquiring an additional 58,604 shares during the period. TKO Group accounts for 3.0% of Hawk Ridge Capital Management LP’s holdings, making the stock its 13th largest position. Hawk Ridge Capital Management LP owned about 0.21% of TKO Group worth $83,411,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its holdings in TKO Group by 108,668.4% in the 4th quarter. Vontobel Holding Ltd. now owns 1,268,239 shares of the company’s stock valued at $265,062,000 after purchasing an additional 1,267,073 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of TKO Group by 54.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,185,769 shares of the company’s stock worth $665,826,000 after buying an additional 1,128,749 shares in the last quarter. State Street Corp grew its holdings 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 buying an additional 887,401 shares in the last quarter. Norges Bank acquired a new stake in shares of TKO Group in the fourth quarter valued at about $150,602,000. Finally, Alliancebernstein L.P. raised its position in shares of TKO Group by 551.8% in the second quarter. Alliancebernstein L.P. now owns 494,964 shares of the company’s stock valued at $90,059,000 after buying an additional 419,021 shares during the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.
TKO Group Stock Up 1.2%
Shares of NYSE TKO opened at $182.79 on Tuesday. The company has a market capitalization of $35.48 billion, a P/E ratio of 68.20 and a beta of 0.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34. The company has a 50 day simple moving average of $195.55 and a 200-day simple moving average of $198.18. TKO Group Holdings, Inc. has a 1 year low of $152.29 and a 1 year high of $226.94.
TKO Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.79 per share. The ex-dividend date was Monday, June 15th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from TKO Group’s previous quarterly dividend of $0.78. TKO Group’s dividend payout ratio (DPR) is currently 117.91%.
Insiders Place Their Bets
In related news, CFO Andrew M. Schleimer bought 2,696 shares of the stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of $185.44 per share, with a total value of $499,946.24. Following the completion of the purchase, the chief financial officer directly owned 30,240 shares in the company, valued at $5,607,705.60. This represents a 9.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 company’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $185.05 per share, with a total value of $1,999,835.35. Following the completion of the transaction, the insider owned 129,207 shares of the company’s stock, valued at approximately $23,909,755.35. The trade was a 9.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 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 and sold 28,696 shares valued at $5,511,785. 64.30% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on TKO. JPMorgan Chase & Co. lowered their price target on shares of TKO Group from $225.00 to $222.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 21st. Citigroup downgraded shares of TKO Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Zacks Research raised shares of TKO Group from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Roth Capital set a $228.00 target price on TKO Group in a report on Monday, May 4th. Finally, Sanford C. Bernstein dropped their price target on TKO Group from $250.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $233.87.
Read Our Latest Research Report on TKO
TKO Group Company Profile
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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