Fortis Capital Management LLC Invests $6.02 Million in TKO Group Holdings, Inc. $TKO

Fortis Capital Management LLC purchased a new stake in shares of TKO Group Holdings, Inc. (NYSE:TKO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,871 shares of the company’s stock, valued at approximately $6,023,000.

Several other institutional investors have also recently made changes to their positions in TKO. Elyxium Wealth LLC acquired a new position in TKO Group during the fourth quarter worth $27,000. Cornerstone Planning Group LLC increased its stake 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 worth $28,000 after purchasing an additional 125 shares during the last quarter. Torren Management LLC acquired a new position in shares of TKO Group during the 4th quarter worth about $32,000. Aventura Private Wealth LLC acquired a new stake in TKO Group in the 4th quarter valued at about $35,000. Finally, Clearstead Advisors LLC lifted its position in shares of TKO Group by 234.0% in the fourth quarter. Clearstead Advisors LLC now owns 177 shares of the company’s stock valued at $37,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Citizens Jmp initiated coverage on shares of TKO Group in a research note on Monday, March 30th. They set a “mkt outperform” rating and a $240.00 target price for the company. Roth Capital set a $228.00 price target on TKO Group in a research note on Monday, May 4th. Wall Street Zen raised TKO Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded TKO Group from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. dropped their price objective on TKO Group from $225.00 to $222.00 and set an “overweight” rating for the company in a report on Tuesday. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.87.

TKO Group Price Performance

TKO stock opened at $181.81 on Wednesday. The company’s 50-day moving average price is $196.27 and its two-hundred day moving average price is $198.87. The firm has a market cap of $35.29 billion, a P/E 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 12 month low of $152.29 and a 12 month high of $226.94.

TKO Group (NYSE:TKO) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. TKO Group had a net margin of 4.47% and a return on equity of 2.49%. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 EPS. On average, analysts anticipate that TKO Group Holdings, Inc. will post 4.94 earnings per share for the current fiscal year.

TKO Group Increases Dividend

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

Insiders Place Their Bets

In other TKO Group news, CFO Andrew M. Schleimer acquired 2,696 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $185.44 per share, for a total transaction of $499,946.24. Following the transaction, the chief financial officer directly owned 30,240 shares in the company, valued at $5,607,705.60. This represents a 9.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark S. Shapiro acquired 10,807 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $185.05 per share, with a total value of $1,999,835.35. Following the completion of the transaction, the insider owned 129,207 shares in the company, valued at $23,909,755.35. The trade was a 9.13% increase in their ownership of the stock. 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. Over the last ninety days, insiders have bought 24,308 shares of company stock valued at $4,499,679 and have sold 28,696 shares valued at $5,511,785. Insiders own 64.30% of the company’s stock.

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.