Stock Traders Buy High Volume of Endeavor Group Put Options (NYSE:EDR)

Endeavor Group Holdings, Inc. (NYSE:EDR) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 14,158 put options on the stock. This is an increase of 21% compared to the average daily volume of 11,738 put options.

Analyst Upgrades and Downgrades

EDR has been the topic of several recent research reports. Piper Sandler cut shares of Endeavor Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 13th. UBS Group reissued a “neutral” rating and set a $27.50 price target (down previously from $31.00) on shares of Endeavor Group in a research report on Wednesday, April 3rd. Jefferies Financial Group reissued a “hold” rating and set a $27.50 price target (down previously from $29.00) on shares of Endeavor Group in a research report on Thursday, April 4th. StockNews.com initiated coverage on shares of Endeavor Group in a research report on Sunday. They set a “hold” rating on the stock. Finally, Citigroup cut shares of Endeavor Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $27.50 in a research report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.89.

Endeavor Group Stock Down 0.3 %

EDR stock opened at $26.66 on Thursday. The company’s 50 day moving average price is $26.61 and its 200 day moving average price is $25.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.16. Endeavor Group has a fifty-two week low of $17.65 and a fifty-two week high of $27.01. The firm has a market capitalization of $18.47 billion, a price-to-earnings ratio of 48.47, a PEG ratio of 1.77 and a beta of 0.78.

Endeavor Group (NYSE:EDR) last released its earnings results on Thursday, May 9th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.50. Endeavor Group had a net margin of 3.40% and a return on equity of 2.86%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.93 billion. On average, equities research analysts anticipate that Endeavor Group will post 1.4 EPS for the current fiscal year.

Endeavor Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.06 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.24 annualized dividend and a yield of 0.90%. Endeavor Group’s dividend payout ratio is currently 43.64%.

Insider Activity

In related news, major shareholder Patrick Whitesell purchased 1,642,970 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was bought at an average price of $89.01 per share, with a total value of $146,240,759.70. Following the acquisition, the insider now owns 1,642,970 shares in the company, valued at $146,240,759.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Endeavor Group news, CAO William K. Fullerton sold 6,750 shares of Endeavor Group stock in a transaction on Monday, May 6th. The shares were sold at an average price of $26.51, for a total transaction of $178,942.50. Following the sale, the chief accounting officer now owns 46,600 shares of the company’s stock, valued at approximately $1,235,366. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Patrick Whitesell bought 1,642,970 shares of the stock in a transaction on Tuesday, April 9th. The shares were acquired at an average cost of $89.01 per share, for a total transaction of $146,240,759.70. Following the purchase, the insider now owns 1,642,970 shares in the company, valued at $146,240,759.70. The disclosure for this purchase can be found here. Insiders sold a total of 69,246 shares of company stock valued at $1,843,419 in the last three months. 63.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Endeavor Group

Several hedge funds have recently added to or reduced their stakes in EDR. Morgan Stanley boosted its holdings in shares of Endeavor Group by 3.8% in the third quarter. Morgan Stanley now owns 12,278,380 shares of the company’s stock valued at $244,340,000 after acquiring an additional 454,790 shares during the period. Clearbridge Investments LLC lifted its holdings in Endeavor Group by 2.4% in the third quarter. Clearbridge Investments LLC now owns 4,300,851 shares of the company’s stock valued at $85,587,000 after acquiring an additional 100,396 shares during the period. Vanguard Group Inc. lifted its holdings in Endeavor Group by 1.8% in the third quarter. Vanguard Group Inc. now owns 14,651,192 shares of the company’s stock valued at $291,559,000 after acquiring an additional 254,550 shares during the period. FMR LLC lifted its holdings in Endeavor Group by 3.7% in the third quarter. FMR LLC now owns 5,145,883 shares of the company’s stock valued at $102,403,000 after acquiring an additional 184,212 shares during the period. Finally, Caxton Associates LP acquired a new stake in Endeavor Group in the fourth quarter valued at $2,373,000. 71.37% of the stock is currently owned by hedge funds and other institutional investors.

Endeavor Group Company Profile

Endeavor Group Holdings, Inc operates as a sports and entertainment company in the United States, the United Kingdom, and internationally. It operates through four segments: Owned Sports Properties; Events, Experiences & Rights; Representation; and Sports Data & Technology. The Owned Sports Properties segment operates a portfolio of sports properties, including Ultimate Fighting Championship, World Wrestling Entertainment, Inc, Professional Bull Rider, and Euroleague.