Endeavor Group (NYSE:EDR) Hits New 12-Month High on Insider Buying Activity

Endeavor Group Holdings, Inc. (NYSE:EDR) shares hit 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 traded. The stock had previously closed at $31.03.

Specifically, major shareholder Patrick Whitesell acquired 263,200 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average cost 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. The trade was a 169.38 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Patrick Whitesell bought 60,208 shares of Endeavor Group stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $143.73 per share, for a total transaction of $8,653,695.84. Following the completion of the acquisition, the insider now directly owns 1,734,530 shares of the company’s stock, valued at $249,303,996.90. The trade was a 3.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

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

Endeavor Group Price Performance

The stock has a market capitalization of $21.35 billion, a P/E ratio of -15.22 and a beta of 0.76. 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 business has a fifty day simple moving average of $29.74 and a 200-day simple moving average of $28.28.

Endeavor Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Monday, December 16th. Endeavor Group’s dividend payout ratio is presently -11.71%.

Institutional Investors Weigh In On Endeavor Group

Several hedge funds and other institutional investors have recently bought and sold shares of EDR. Longfellow Investment Management Co. LLC bought a new position in shares of Endeavor Group during the 2nd quarter worth about $75,000. SG Americas Securities LLC acquired a new position in Endeavor Group during the 2nd quarter worth approximately $130,000. FMR LLC raised 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. CIBC Asset Management Inc bought a new position in Endeavor Group in the second quarter worth approximately $226,000. Finally, Tidal Investments LLC grew its stake 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 during the period. 74.99% of the stock is owned by institutional investors.

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.