Dock Street Asset Management Inc. Makes New Investment in TKO Group Holdings, Inc. $TKO

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

Several other institutional investors have also recently made changes to their positions in the company. 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 valued at $1,060,106,000 after acquiring an additional 887,401 shares in the last quarter. Norges Bank bought a new position in TKO Group in the 2nd quarter valued at approximately $132,441,000. Alliancebernstein L.P. boosted its stake in TKO Group by 551.8% during the 2nd quarter. Alliancebernstein L.P. now owns 494,964 shares of the company’s stock valued at $90,059,000 after purchasing an additional 419,021 shares during the last quarter. Invesco Ltd. increased its holdings in shares of TKO Group by 26.9% in the 2nd quarter. Invesco Ltd. now owns 1,806,377 shares of the company’s stock worth $328,670,000 after purchasing an additional 383,325 shares in the last quarter. Finally, Munro Partners bought a new stake in shares of TKO Group in the 2nd quarter worth $65,670,000. Institutional investors own 89.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Roth Mkm reaffirmed a “buy” rating and set a $240.00 price target on shares of TKO Group in a report on Thursday, February 12th. Morgan Stanley set a $210.00 price objective on TKO Group in a report on Thursday, December 18th. Citizens Jmp started coverage on shares of TKO Group in a research note on Monday. They set a “mkt outperform” rating and a $240.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TKO Group in a report on Monday, December 29th. Finally, TD Cowen lifted their price target on shares of TKO Group from $245.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Thirteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, TKO Group has an average rating of “Moderate Buy” and a consensus price target of $232.25.

TKO Group Stock Performance

Shares of TKO opened at $201.74 on Wednesday. The firm has a market capitalization of $39.16 billion, a P/E ratio of 89.66 and a beta of 0.66. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.26 and a quick ratio of 1.26. TKO Group Holdings, Inc. has a one year low of $133.07 and a one year high of $226.94. The business has a fifty day moving average of $204.63 and a 200 day moving average of $199.66.

TKO Group (NYSE:TKO) last posted its earnings results on Wednesday, February 25th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.20). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. TKO Group had a net margin of 4.13% and a return on equity of 2.07%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. As a group, sell-side analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Announces Dividend

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

Insider Buying and Selling at TKO Group

In related news, insider Seth D. Krauss sold 14,016 shares of TKO Group stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $201.22, for a total transaction of $2,820,299.52. Following the transaction, the insider directly owned 2,271 shares in the company, valued at approximately $456,970.62. The trade was a 86.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark S. Shapiro sold 32,022 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $204.08, for a total value of $6,535,049.76. Following the sale, the insider directly owned 104,842 shares of the company’s stock, valued at $21,396,155.36. This represents a 23.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 168,802 shares of company stock worth $34,480,366. 53.80% 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.