TKO Holdings (Parent company of WWE and UFC) will be reporting their Q1 2024 earnings on May 8th. Is anyone else planning to do an earnings play for this?
There are a lot of reasons to be bullish on TKO right now. WWE just signed a 5 Billion dollar 10 year deal with Netflix, they recently put on their biggest wrestlemania event ever (record gate and attendance) with pro wrestling entering a new boom period not seen since the famous attitude era from the late 90s. The Rock is on the board of directors which has been a great PR move and has also entered back on TV as a wrestler/character and is expected to wrestle more big matches in the coming year(s). Ratings are up significantly in 2024 along with house show attendance, merchandice sales and sponsorship revenue. The Vince scandal seems to be fading away as he has pretty much divested all of his TKO shares and it has been made clear that he's no longer part of the company in any way.
The UFC side of things are also bright. They just came off their UFC 300 event which was the 3rd highest overall gate in company history. They have the huge Conor vs Chandler event coming up in June which is expected to do big numbers. UFC event gate revenues have been trending higher in the last year due to higher ticket sales.
I expect the upcoming Q1 earnings to be quite strong and the stock price to hit between $105-$110 by June as a conservative estimate. The stock itself has strong buy reccomendations based on Yahoo finance analyst picks.
Any thoughts from people following this stock?
