Gabelli Funds LLC Cuts Stock Holdings in TKO Group Holdings, Inc. $TKO

Gabelli Funds LLC reduced its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,980 shares of the company’s stock after selling 3,951 shares during the quarter. Gabelli Funds LLC’s holdings in TKO Group were worth $12,297,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TKO. CreativeOne Wealth LLC lifted its stake in shares of TKO Group by 2.1% in the 4th quarter. CreativeOne Wealth LLC now owns 2,586 shares of the company’s stock valued at $541,000 after acquiring an additional 54 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in TKO Group by 3.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 1,783 shares of the company’s stock worth $373,000 after acquiring an additional 56 shares during the last quarter. Stephens Inc. AR grew its position in TKO Group by 2.7% during the 4th quarter. Stephens Inc. AR now owns 2,160 shares of the company’s stock worth $451,000 after acquiring an additional 56 shares during the last quarter. Sunbelt Securities Inc. increased its stake in TKO Group by 6.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 950 shares of the company’s stock worth $192,000 after purchasing an additional 56 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in TKO Group by 29.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 249 shares of the company’s stock worth $52,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 89.79% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ariel Emanuel acquired 10,805 shares of TKO Group stock in a transaction on Wednesday, May 13th. The shares were acquired at an average cost of $185.09 per share, with a total value of $1,999,897.45. Following the transaction, the chief executive officer owned 154,655 shares in the company, valued at $28,625,093.95. This trade represents a 7.51% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew M. Schleimer acquired 2,696 shares of the firm’s 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 acquisition, the chief financial officer directly owned 30,240 shares in the company, valued at approximately $5,607,705.60. This represents a 9.79% increase in their position. The SEC filing for this purchase provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have purchased 24,308 shares of company stock worth $4,499,679 and have sold 28,696 shares worth $5,511,785. 64.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on TKO shares. BTIG Research reissued a “buy” rating and set a $237.00 price objective on shares of TKO Group in a research note on Thursday, May 7th. Weiss Ratings raised shares of TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Guggenheim lowered their price target on shares of TKO Group from $232.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. Sanford C. Bernstein dropped their price target on shares of TKO Group from $250.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Finally, Wall Street Zen raised shares of TKO Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. 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.com, TKO Group has a consensus rating of “Moderate Buy” and a consensus target price of $233.87.

TKO Group Stock Up 0.1%

Shares of NYSE:TKO opened at $180.73 on Monday. The stock’s 50-day moving average is $195.78 and its 200 day moving average is $198.32. The company has a market cap of $35.08 billion, a PE ratio of 67.44 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. 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 released its quarterly earnings data on Wednesday, May 6th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. The business 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 business’s revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Sell-side analysts anticipate that TKO Group Holdings, Inc. will post 4.94 EPS for the current year.

TKO Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.79 per share. This is a boost from TKO Group’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, June 15th. TKO Group’s dividend payout ratio is currently 117.91%.

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.