P Schoenfeld Asset Management LP Takes $8.11 Million Position in Endeavor Group Holdings, Inc. (NYSE:EDR)

P Schoenfeld Asset Management LP bought a new position in shares of Endeavor Group Holdings, Inc. (NYSE:EDR) during the second quarter, HoldingsChannel.com reports. The firm bought 300,000 shares of the company’s stock, valued at approximately $8,109,000. Endeavor Group makes up approximately 2.0% of P Schoenfeld Asset Management LP’s holdings, making the stock its 11th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC purchased a new stake in shares of Endeavor Group during the second quarter worth $75,000. PNC Financial Services Group Inc. boosted its holdings in Endeavor Group by 14.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,200 shares of the company’s stock valued at $76,000 after purchasing an additional 399 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Endeavor Group during the 1st quarter worth $102,000. SG Americas Securities LLC purchased a new stake in Endeavor Group during the 2nd quarter worth about $130,000. Finally, Quest Partners LLC acquired a new stake in Endeavor Group in the 4th quarter valued at about $177,000. 71.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Endeavor Group in a research report on Friday. They set a “hold” rating for the company. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Endeavor Group has an average rating of “Hold” and a consensus target price of $27.86.

Endeavor Group Stock Up 1.3 %

Shares of NYSE EDR opened at $28.08 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. Endeavor Group Holdings, Inc. has a 52-week low of $17.65 and a 52-week high of $28.10. The business has a 50-day moving average price of $27.44 and a 200 day moving average price of $26.77. The stock has a market cap of $19.46 billion, a PE ratio of 51.05 and a beta of 0.77.

Endeavor Group (NYSE:EDR) last announced its earnings results on Thursday, August 8th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.87 billion. Endeavor Group had a negative net margin of 6.23% and a positive return on equity of 4.45%. Equities research analysts forecast that Endeavor Group Holdings, Inc. will post 1.4 earnings per share for the current year.

Endeavor Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, September 16th. Endeavor Group’s payout ratio is currently 43.64%.

Insider Buying and Selling at Endeavor Group

In other news, CFO Jason Lublin sold 20,832 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $27.28, for a total transaction of $568,296.96. Following the completion of the transaction, the chief financial officer now directly owns 130,187 shares of the company’s stock, valued at approximately $3,551,501.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 63.90% 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.