Dock Street Asset Management Inc. Has $14.86 Million Stock Holdings in TKO Group Holdings, Inc. $TKO

Dock Street Asset Management Inc. boosted its position in TKO Group Holdings, Inc. (NYSE:TKO) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,668 shares of the company’s stock after acquiring an additional 3,816 shares during the period. TKO Group accounts for 1.6% of Dock Street Asset Management Inc.’s portfolio, making the stock its 21st largest position. Dock Street Asset Management Inc.’s holdings in TKO Group were worth $14,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TKO. Elyxium Wealth LLC acquired a new position in TKO Group during the 4th quarter valued at about $27,000. Torren Management LLC bought a new position in shares of TKO Group in the 4th quarter valued at about $32,000. CYBER HORNET ETFs LLC acquired a new stake in shares of TKO Group during the 2nd quarter worth approximately $34,000. Aventura Private Wealth LLC acquired a new stake in shares of TKO Group during the 4th quarter worth approximately $35,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of TKO Group during the second quarter worth approximately $36,000. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TKO Group news, Director Nick Khan sold 9,589 shares of TKO Group stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $207.56, for a total value of $1,990,292.84. Following the transaction, the director owned 81,511 shares of the company’s stock, valued at approximately $16,918,423.16. The trade was a 10.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark S. Shapiro purchased 10,807 shares of the business’s stock in a transaction 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 purchase, the insider owned 129,207 shares of the company’s stock, valued at approximately $23,909,755.35. This represents a 9.13% increase in their position. 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. In the last quarter, insiders acquired 24,308 shares of company stock valued at $4,499,679 and sold 28,625 shares valued at $5,650,725. 64.30% of the stock is owned by corporate insiders.

TKO Group Stock Performance

TKO stock opened at $204.14 on Thursday. The business’s 50-day moving average price is $194.02 and its two-hundred day moving average price is $201.19. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.57. The firm has a market cap of $39.63 billion, a PE ratio of 76.17 and a beta of 0.59. TKO Group Holdings, Inc. has a 1-year low of $152.29 and a 1-year high of $226.94.

TKO Group (NYSE:TKO) last posted its earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. TKO Group had a return on equity of 2.49% and a net margin of 4.47%.The company’s revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. As a group, research analysts forecast that TKO Group Holdings, Inc. will post 4.96 earnings per share for the current year.

TKO Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.79 dividend. The ex-dividend date is Monday, June 15th. This represents a $3.16 annualized dividend and a dividend yield of 1.5%. This is a boost from TKO Group’s previous quarterly dividend of $0.78. TKO Group’s payout ratio is presently 117.91%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TKO shares. TD Cowen increased their price objective on shares of TKO Group from $245.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Weiss Ratings raised shares of TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Citigroup cut shares of TKO Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Wall Street Zen raised TKO Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research upgraded TKO Group from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.73.

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.