Endeavor Group (NYSE:EDR) Sets New 1-Year High on Insider Buying Activity

Endeavor Group Holdings, Inc. (NYSE:EDR)’s stock price hit a new 52-week high on Thursday after an insider bought additional shares in the company. The company traded as high as $31.16 and last traded at $31.16, with a volume of 13681 shares. The stock had previously closed at $31.03.

Specifically, major shareholder Patrick Whitesell bought 263,200 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of $146.97 per share, for a total transaction of $38,682,504.00. Following the transaction, the insider now owns 418,587 shares of the company’s stock, valued at $61,519,731.39. This represents a 169.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Patrick Whitesell purchased 60,208 shares of Endeavor Group stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $143.73 per share, for a total transaction of $8,653,695.84. Following the transaction, the insider now directly owns 1,734,530 shares in the company, valued at $249,303,996.90. This represents a 3.60 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Endeavor Group in a research note on Monday, December 9th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.86.

Endeavor Group Price Performance

The business’s 50-day simple moving average is $29.74 and its two-hundred day simple moving average is $28.28. The stock has a market cap of $21.35 billion, a price-to-earnings ratio of -15.22 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63.

Endeavor Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.77%. Endeavor Group’s dividend payout ratio is currently -11.71%.

Hedge Funds Weigh In On Endeavor Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Longfellow Investment Management Co. LLC acquired a new position in shares of Endeavor Group in the second quarter valued at approximately $75,000. SG Americas Securities LLC acquired a new position in Endeavor Group in the 2nd quarter valued at approximately $130,000. FMR LLC increased its position in Endeavor Group by 67.6% in the 3rd quarter. FMR LLC now owns 5,575 shares of the company’s stock valued at $159,000 after acquiring an additional 2,248 shares during the period. CIBC Asset Management Inc bought a new position in shares of Endeavor Group during the second quarter valued at $226,000. Finally, Tidal Investments LLC lifted its holdings in shares of Endeavor Group by 7.9% during the third quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock worth $243,000 after purchasing an additional 620 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

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.