Investors Buy Large Volume of Put Options on Endeavor Group (NYSE:EDR)

Endeavor Group Holdings, Inc. (NYSE:EDR) was the target of some unusual options trading activity on Friday. Investors acquired 300,267 put options on the company. This represents an increase of 2,469% compared to the average daily volume of 11,686 put options.

Insider Buying and Selling at Endeavor Group

In other Endeavor Group news, major shareholder Patrick Whitesell acquired 263,200 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $146.97 per share, for a total transaction of $38,682,504.00. Following the completion of the acquisition, the insider now 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William K. Fullerton sold 6,875 shares of Endeavor Group stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.17, for a total transaction of $214,293.75. Following the completion of the transaction, the chief accounting officer now owns 53,255 shares of the company’s stock, valued at $1,659,958.35. This trade represents a 11.43 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 1,535,485 shares of company stock worth $239,160,243 over the last three months. Insiders own 63.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new stake in shares of Endeavor Group during the 4th quarter worth approximately $289,205,000. Athos Capital Ltd lifted its position in shares of Endeavor Group by 135.9% during the 3rd quarter. Athos Capital Ltd now owns 7,719,200 shares of the company’s stock worth $220,460,000 after buying an additional 4,447,000 shares during the last quarter. Steadfast Capital Management LP lifted its position in shares of Endeavor Group by 207.9% during the 4th quarter. Steadfast Capital Management LP now owns 3,641,660 shares of the company’s stock worth $113,948,000 after buying an additional 2,458,800 shares during the last quarter. Madison Avenue Partners LP lifted its position in shares of Endeavor Group by 228.3% during the 4th quarter. Madison Avenue Partners LP now owns 2,397,658 shares of the company’s stock worth $75,023,000 after buying an additional 1,667,398 shares during the last quarter. Finally, Polar Asset Management Partners Inc. lifted its position in shares of Endeavor Group by 300.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company’s stock worth $57,120,000 after buying an additional 1,500,000 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Endeavor Group Stock Down 0.1 %

Shares of Endeavor Group stock opened at $30.75 on Friday. Endeavor Group has a 52-week low of $23.14 and a 52-week high of $35.99. The company has a 50 day moving average of $31.40 and a 200 day moving average of $29.65. 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 has a market capitalization of $21.04 billion, a P/E ratio of -15.00 and a beta of 0.74.

Endeavor Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.06 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.78%. Endeavor Group’s dividend payout ratio is currently -11.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EDR shares. Seaport Res Ptn cut shares of Endeavor Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 11th. StockNews.com cut shares of Endeavor Group from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Endeavor Group has an average rating of “Hold” and a consensus price target of $27.86.

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.