Elevation Point Wealth Partners LLC Makes New Investment in TKO Group Holdings, Inc. $TKO

Elevation Point Wealth Partners LLC acquired a new position in shares of TKO Group Holdings, Inc. (NYSE:TKO) during the first quarter, Holdings Channel reports. The institutional investor acquired 3,057 shares of the company’s stock, valued at approximately $616,000.

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its holdings in TKO Group by 20.3% in 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 increased its holdings in TKO Group by 0.8% during the 4th quarter. Ninety One UK Ltd now owns 5,006,158 shares of the company’s stock worth $1,046,287,000 after purchasing an additional 42,156 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in TKO Group by 54.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,185,769 shares of the company’s stock worth $665,826,000 after purchasing an additional 1,128,749 shares during the period. XN LP raised its position in TKO Group by 6.3% in the 4th quarter. XN LP now owns 2,866,943 shares of the company’s stock valued at $599,191,000 after purchasing an additional 169,574 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in TKO Group by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,373,243 shares of the company’s stock valued at $496,008,000 after purchasing an additional 395,040 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at TKO Group

In other TKO Group news, insider Mark S. Shapiro bought 10,807 shares of TKO Group stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $185.05 per share, with a total value of $1,999,835.35. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Andrew M. Schleimer bought 2,696 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $185.44 per share, with a total value of $499,946.24. Following the purchase, the chief financial officer directly owned 30,240 shares of the company’s stock, valued at approximately $5,607,705.60. This trade 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. Insiders have bought 24,308 shares of company stock worth $4,499,679 in the last quarter. 64.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on TKO. BTIG Research reissued a “buy” rating and set a $237.00 price objective on shares of TKO Group in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of TKO Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. TD Cowen boosted their price target on shares of TKO Group from $245.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Sanford C. Bernstein dropped their price objective on shares of TKO Group from $250.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. Finally, Citizens Jmp initiated coverage on shares of TKO Group in a research report on Monday, March 30th. They issued a “mkt outperform” rating and a $240.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $233.73.

TKO Group Stock Up 0.6%

Shares of NYSE TKO opened at $193.49 on Wednesday. The stock has a market cap of $37.56 billion, a PE ratio of 72.20 and a beta of 0.60. TKO Group Holdings, Inc. has a 52-week low of $152.29 and a 52-week high of $226.94. The business has a 50-day moving average price of $196.48 and a 200 day moving average price of $200.96. 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 (NYSE:TKO) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. The company 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 firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities research analysts forecast that TKO Group Holdings, Inc. will post 4.94 earnings per share for the current year.

TKO Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.79 per share. The ex-dividend date was Monday, June 15th. This represents a $3.16 dividend on an annualized basis and a yield of 1.6%. This is an increase from TKO Group’s previous quarterly dividend of $0.78. TKO Group’s dividend payout ratio (DPR) is currently 117.91%.

TKO Group Company Profile

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.