Hawk Ridge Capital Management LP Has $112.20 Million Holdings in TKO Group Holdings, Inc. $TKO

Key Points

• Hawk Ridge Capital Management LP increased its stake in TKO Group Holdings by 2.1%, acquiring an additional 14,760 shares to reach a total of 734,274 shares, making TKO its third largest holding.
• Several analysts have upgraded their price targets for TKO Group, with JPMorgan raising it from $182 to $212, indicating a positive outlook and an "overweight" rating for the stock.
• TKO Group announced a significant increase in its quarterly dividend from $0.38 to $0.76, which represents an annualized dividend yield of 1.6% and highlights the company's strong revenue growth of 53.7% year-over-year.

Hawk Ridge Capital Management LP increased its holdings in TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 734,274 shares of the company's stock after buying an additional 14,760 shares during the quarter. TKO Group accounts for about 5.3% of Hawk Ridge Capital Management LP's investment portfolio, making the stock its 3rd largest position. Hawk Ridge Capital Management LP owned approximately 0.43% of TKO Group worth $112,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of TKO Group by 19.4% in the first quarter. Vanguard Group Inc. now owns 7,976,904 shares of the company's stock worth $1,218,951,000 after buying an additional 1,295,817 shares during the last quarter. Ninety One UK Ltd boosted its holdings in shares of TKO Group by 2.1% in the first quarter. Ninety One UK Ltd now owns 4,238,773 shares of the company's stock worth $647,727,000 after buying an additional 87,165 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of TKO Group by 12.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,962,965 shares of the company's stock worth $299,961,000 after buying an additional 210,469 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of TKO Group by 242.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,496,462 shares of the company's stock worth $228,675,000 after buying an additional 1,059,636 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of TKO Group by 569.7% in the first quarter. Invesco Ltd. now owns 1,423,052 shares of the company's stock worth $217,457,000 after buying an additional 1,210,563 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company's stock.

TKO Group Price Performance

TKO stock traded up $6.52 during midday trading on Monday, hitting $200.52. The company's stock had a trading volume of 1,097,540 shares, compared to its average volume of 1,243,931. TKO Group Holdings, Inc. has a 12 month low of $113.16 and a 12 month high of $200.71. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $39.76 billion, a price-to-earnings ratio of 82.86 and a beta of 0.78. The company has a 50 day moving average of $176.78 and a two-hundred day moving average of $163.88.

TKO Group (NYSE:TKO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.06). TKO Group had a return on equity of 2.82% and a net margin of 5.40%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. The company's revenue for the quarter was up 53.7% compared to the same quarter last year. On average, analysts expect that TKO Group Holdings, Inc. will post 3.88 EPS for the current year.

TKO Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, September 15th. This is a positive change from TKO Group's previous quarterly dividend of $0.38. TKO Group's dividend payout ratio is currently 62.81%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on TKO Group from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Guggenheim boosted their price objective on TKO Group from $200.00 to $205.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. Roth Capital boosted their price objective on TKO Group from $208.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Morgan Stanley reiterated an "outperform" rating on shares of TKO Group in a research note on Sunday, August 10th. Finally, The Goldman Sachs Group boosted their price objective on TKO Group from $170.00 to $188.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $192.21.

Insiders Place Their Bets

In other TKO Group news, Director Nick Khan sold 45,168 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $170.82, for a total value of $7,715,597.76. Following the completion of the transaction, the director directly owned 156,494 shares in the company, valued at $26,732,305.08. This represents a 22.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 73,725 shares of company stock valued at $12,767,807. Corporate insiders own 53.80% of the company's stock.

TKO Group Profile

TKO Group Holdings, Inc operates as a sports and entertainment company. The company produces and licenses live events, television programs, and long-form and short-form content, reality series, and other filmed entertainment on digital and linear channels and via pay-per-view. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets.