Dock Street Asset Management Inc. Invests $14.60 Million in TKO Group Holdings, Inc. $TKO

Dock Street Asset Management Inc. bought a new stake in TKO Group Holdings, Inc. (NYSE:TKO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 69,852 shares of the company’s stock, valued at approximately $14,599,000. TKO Group makes up approximately 1.3% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 22nd biggest position.

Other institutional investors have also bought and sold shares of the company. State Street Corp grew its holdings in TKO Group by 20.3% during the third quarter. State Street Corp now owns 5,249,091 shares of the company’s stock valued at $1,060,106,000 after purchasing an additional 887,401 shares during the period. Ninety One UK Ltd raised its stake in shares of TKO Group by 2.4% in the third quarter. Ninety One UK Ltd now owns 4,964,002 shares of the company’s stock valued at $1,002,530,000 after buying an additional 113,996 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of TKO Group by 2.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,057,020 shares of the company’s stock valued at $415,436,000 after buying an additional 53,818 shares during the period. Invesco Ltd. lifted its position in shares of TKO Group by 26.9% during the 2nd quarter. Invesco Ltd. now owns 1,806,377 shares of the company’s stock valued at $328,670,000 after buying an additional 383,325 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of TKO Group by 31.7% during the 3rd quarter. UBS Group AG now owns 1,274,142 shares of the company’s stock worth $257,326,000 after acquiring an additional 307,000 shares during the period. Institutional investors own 89.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TKO. UBS Group raised their target price on TKO Group from $235.00 to $238.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Pivotal Research increased their price target on shares of TKO Group from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Zacks Research lowered shares of TKO Group from a “hold” rating to a “strong sell” rating in a research report on Friday, March 6th. JPMorgan Chase & Co. boosted their price objective on shares of TKO Group from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered shares of TKO Group from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, TKO Group has an average rating of “Moderate Buy” and an average target price of $232.25.

Insider Transactions at TKO Group

In other TKO Group news, CFO Shane Kapral sold 254 shares of TKO Group stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $199.15, for a total value of $50,584.10. Following the transaction, the chief financial officer directly owned 99 shares of the company’s stock, valued at $19,715.85. The trade was a 71.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nick Khan sold 9,518 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $220.29, for a total value of $2,096,720.22. Following the completion of the sale, the director owned 110,048 shares of the company’s stock, valued at $24,242,473.92. The trade was a 7.96% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 168,802 shares of company stock worth $34,480,366. 53.80% of the stock is currently owned by insiders.

TKO Group Price Performance

TKO Group stock opened at $201.74 on Wednesday. The stock has a market cap of $39.16 billion, a price-to-earnings ratio of 89.66 and a beta of 0.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $204.63 and a 200 day simple moving average of $199.66. TKO Group Holdings, Inc. has a 52 week low of $133.07 and a 52 week high of $226.94.

TKO Group (NYSE:TKO) last announced its earnings results on Wednesday, February 25th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.20). TKO Group had a net margin of 4.13% and a return on equity of 2.07%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts forecast that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current fiscal year.

TKO Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $3.12 annualized dividend and a dividend yield of 1.5%. TKO Group’s dividend payout ratio (DPR) is 138.67%.

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.