Endeavor Group (NYSE:EDR) Hits New 1-Year High – Here’s What Happened

Endeavor Group Holdings, Inc. (NYSE:EDR) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $31.42 and last traded at $31.29, with a volume of 556010 shares trading hands. The stock had previously closed at $31.20.

Wall Street Analysts Forecast Growth

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

Endeavor Group Price Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of -15.23 and a beta of 0.76. The stock’s 50 day simple moving average is $29.90 and its 200-day simple moving average is $28.40.

Endeavor Group Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Ariel Emanuel sold 48,176 shares of Endeavor Group stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $29.04, for a total value of $1,399,031.04. Following the transaction, the chief executive officer now owns 1,831,247 shares in the company, valued at $53,179,412.88. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Patrick Whitesell purchased 263,200 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $146.97 per share, with a total value of $38,682,504.00. Following the completion of the acquisition, the insider now directly owns 418,587 shares of the company’s stock, valued at approximately $61,519,731.39. This trade represents a 169.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 63.90% of the company’s stock.

Hedge Funds Weigh In On Endeavor Group

A number of institutional investors have recently made changes to their positions in the business. Pentwater Capital Management LP increased its position in Endeavor Group by 457.0% in the 2nd quarter. Pentwater Capital Management LP now owns 13,200,000 shares of the company’s stock worth $356,796,000 after buying an additional 10,830,000 shares during the period. Davidson Kempner Capital Management LP bought a new position in Endeavor Group during the second quarter worth $205,038,000. Athos Capital Ltd raised its stake in Endeavor Group by 135.9% during the 3rd quarter. Athos Capital Ltd now owns 7,719,200 shares of the company’s stock valued at $220,460,000 after purchasing an additional 4,447,000 shares during the last quarter. Glazer Capital LLC acquired a new position in Endeavor Group during the 2nd quarter valued at $49,017,000. Finally, Polar Asset Management Partners Inc. boosted its holdings in Endeavor Group by 300.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company’s stock valued at $57,120,000 after purchasing an additional 1,500,000 shares during the period. 74.99% of the stock is currently owned by institutional investors.

About Endeavor Group

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.