Endeavor Group (NYSE:EDR) Reaches New 12-Month High Following Insider Buying Activity

Endeavor Group Holdings, Inc. (NYSE:EDR) reached a new 52-week high during mid-day trading on Thursday after an insider bought additional shares in the company. The stock 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 acquired 263,200 shares of the business’s stock in a transaction on Monday, December 16th. The shares were purchased at an average price of $146.97 per share, for a total transaction of $38,682,504.00. Following the completion of the purchase, the insider now directly owns 418,587 shares of the company’s stock, valued at $61,519,731.39. This represents a 169.38 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Patrick Whitesell purchased 60,208 shares of the stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $143.73 per share, with a total value of $8,653,695.84. Following the completion of the acquisition, the insider now directly owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. The trade was a 3.60 % increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

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

Endeavor Group Stock Up 0.3 %

The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $29.67 and a 200-day moving average of $28.23. The firm has a market cap of $21.30 billion, a price-to-earnings ratio of -15.19 and a beta of 0.76.

Endeavor Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders 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 annualized dividend and a dividend yield of 0.77%. Endeavor Group’s dividend payout ratio is currently -11.71%.

Institutional Trading of Endeavor Group

Large investors have recently modified their holdings of the company. Pentwater Capital Management LP raised its stake in Endeavor Group by 457.0% during the 2nd quarter. Pentwater Capital Management LP now owns 13,200,000 shares of the company’s stock valued at $356,796,000 after acquiring an additional 10,830,000 shares in the last quarter. Athos Capital Ltd increased its holdings in shares of Endeavor Group by 135.9% during the third 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 period. Davidson Kempner Capital Management LP bought a new stake in shares of Endeavor Group during the second quarter valued at about $205,038,000. LMR Partners LLP raised its stake in shares of Endeavor Group by 41.6% during the third quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock valued at $125,486,000 after purchasing an additional 1,290,867 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Endeavor Group by 4.0% in the third quarter. Geode Capital Management LLC now owns 2,077,887 shares of the company’s stock worth $59,367,000 after purchasing an additional 79,212 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.