Fortis Capital Management LLC Acquires New Holdings in TKO Group Holdings, Inc. $TKO

Fortis Capital Management LLC bought a new stake in TKO Group Holdings, Inc. (NYSE:TKO) during the first quarter, Holdings Channel.com reports. The firm bought 29,871 shares of the company’s stock, valued at approximately $6,023,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TKO. Elyxium Wealth LLC bought a new position in shares of TKO Group in the 4th quarter valued at $27,000. Cornerstone Planning Group LLC boosted its holdings in shares of TKO Group by 543.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 148 shares of the company’s stock valued at $28,000 after acquiring an additional 125 shares in the last quarter. Torren Management LLC bought a new stake in TKO Group during the 4th quarter worth $32,000. CYBER HORNET ETFs LLC bought a new stake in TKO Group during the 2nd quarter worth $34,000. Finally, Aventura Private Wealth LLC acquired a new position in TKO Group in the 4th quarter worth about $35,000. Institutional investors own 89.79% of the company’s stock.

TKO Group Stock Performance

NYSE TKO opened at $181.81 on Wednesday. The company has a market capitalization of $35.29 billion, a price-to-earnings ratio of 67.84 and a beta of 0.60. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.57. TKO Group Holdings, Inc. has a twelve month low of $152.29 and a twelve month high of $226.94. The stock has a fifty day simple moving average of $196.27 and a 200 day simple moving average of $198.87.

TKO Group (NYSE:TKO) last announced its earnings results on Wednesday, May 6th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. TKO Group had a return on equity of 2.49% and a net margin of 4.47%.The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $0.69 EPS. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. Sell-side analysts expect that TKO Group Holdings, Inc. will post 4.94 EPS for the current year.

TKO Group Increases Dividend

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

Insider Buying and Selling

In related news, Director Nick Khan sold 9,589 shares of TKO Group stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $182.63, for a total value of $1,751,239.07. Following the transaction, the director directly owned 72,013 shares of the company’s stock, valued at $13,151,734.19. The trade was a 11.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ariel Emanuel bought 10,805 shares of TKO Group stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $185.09 per share, for a total transaction of $1,999,897.45. Following the completion of the acquisition, the chief executive officer directly owned 154,655 shares of the company’s stock, valued at $28,625,093.95. The trade was a 7.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 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 owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on TKO. Wall Street Zen upgraded TKO Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research restated a “buy” rating and set a $237.00 price target on shares of TKO Group in a report on Thursday, May 7th. Weiss Ratings raised TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Roth Capital set a $228.00 price objective on shares of TKO Group in a report on Monday, May 4th. Finally, Citigroup downgraded shares of TKO Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.87.

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.