Endeavor Group Holdings, Inc. (NYSE:EDR) Sees Significant Decrease in Short Interest

Endeavor Group Holdings, Inc. (NYSE:EDR) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 7,640,000 shares, a decrease of 23.3% from the December 15th total of 9,960,000 shares. Based on an average daily trading volume, of 1,750,000 shares, the short-interest ratio is presently 4.4 days. Approximately 3.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Endeavor Group from a “sell” rating to a “hold” rating in a research report on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.86.

Endeavor Group Stock Up 1.8 %

EDR opened at $31.04 on Friday. Endeavor Group has a 1 year low of $22.77 and a 1 year high of $31.49. The firm has a 50 day moving average price of $30.39 and a 200 day moving average price of $28.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $21.24 billion, a PE ratio of -15.14 and a beta of 0.74.

Endeavor Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Monday, December 16th. Endeavor Group’s payout ratio is currently -11.71%.

Insider Activity at Endeavor Group

In related news, CAO William K. Fullerton sold 6,875 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.17, for a total value of $214,293.75. Following the completion of the transaction, the chief accounting officer now directly owns 53,255 shares in the company, valued at approximately $1,659,958.35. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Patrick Whitesell bought 263,200 shares of Endeavor Group stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $146.97 per share, for a total transaction of $38,682,504.00. Following the completion of the transaction, the insider now directly owns 418,587 shares of the company’s stock, valued at $61,519,731.39. This trade represents a 169.38 % increase in their position. The disclosure for this purchase can be found here. Insiders own 63.90% of the company’s stock.

Hedge Funds Weigh In On Endeavor Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC grew its position in Endeavor Group by 7.9% in the third quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock valued at $243,000 after acquiring an additional 620 shares in the last quarter. Mirador Capital Partners LP boosted its stake in shares of Endeavor Group by 3.0% in the fourth quarter. Mirador Capital Partners LP now owns 27,057 shares of the company’s stock valued at $847,000 after purchasing an additional 792 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Endeavor Group by 2.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,789 shares of the company’s stock valued at $1,165,000 after purchasing an additional 1,066 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Endeavor Group by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,054 shares of the company’s stock valued at $1,245,000 after purchasing an additional 1,346 shares in the last quarter. Finally, FMR LLC increased its stake in Endeavor Group by 67.6% during the 3rd quarter. FMR LLC now owns 5,575 shares of the company’s stock worth $159,000 after buying an additional 2,248 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

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.