Endeavor Group (NYSE:EDR) Reaches New 12-Month High – What’s Next?

Shares of Endeavor Group Holdings, Inc. (NYSE:EDR) hit a new 52-week high on Thursday . The stock traded as high as $31.46 and last traded at $31.45, with a volume of 230835 shares traded. The stock had previously closed at $31.29.

Analyst Ratings Changes

Separately, StockNews.com upgraded Endeavor Group from a “sell” rating to a “hold” rating in a research report on Friday, December 27th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Endeavor Group has a consensus rating of “Hold” and an average price target of $27.86.

Endeavor Group Price Performance

The firm has a market cap of $21.47 billion, a price-to-earnings ratio of -15.31 and a beta of 0.76. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $30.06 and its 200-day moving average price is $28.54.

Endeavor Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Monday, December 16th. Endeavor Group’s dividend payout ratio is presently -11.71%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Endeavor Group

Several hedge funds have recently modified their holdings of EDR. Davidson Kempner Capital Management LP purchased a new stake in Endeavor Group in the 2nd quarter valued at approximately $205,038,000. Athos Capital Ltd boosted its stake in shares of Endeavor Group by 135.9% in the third quarter. Athos Capital Ltd now owns 7,719,200 shares of the company’s stock valued at $220,460,000 after buying an additional 4,447,000 shares in the last quarter. Glazer Capital LLC purchased a new position in Endeavor Group in the second quarter worth $49,017,000. Polar Asset Management Partners Inc. lifted its holdings in Endeavor Group by 300.0% in the third quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company’s stock valued at $57,120,000 after acquiring an additional 1,500,000 shares during the period. Finally, LMR Partners LLP boosted its position in shares of Endeavor Group by 41.6% during the 3rd quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock worth $125,486,000 after purchasing an additional 1,290,867 shares in the last quarter. 74.99% of the stock is owned by institutional investors and hedge funds.

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.