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

Endeavor Group Holdings, Inc. (NYSE:EDR)’s stock price reached a new 52-week high during trading on Friday following insider buying activity. The stock traded as high as $31.55 and last traded at $31.45, with a volume of 1526848 shares traded. The stock had previously closed at $30.90.

Specifically, major shareholder Patrick Whitesell purchased 125,589 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $143.06 per share, for a total transaction of $17,966,762.34. Following the completion of the purchase, the insider now directly owns 807,376 shares in the company, valued at $115,503,210.56. This trade represents a 18.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Patrick Whitesell acquired 108,476 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was bought at an average cost of $144.13 per share, with a total value of $15,634,645.88. Following the acquisition, the insider now owns 915,852 shares in the company, valued at $132,001,748.76. The trade was a 13.44 % increase in their position. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

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

Endeavor Group Trading Up 2.1 %

The company has a market cap of $21.59 billion, a price-to-earnings ratio of -15.40 and a beta of 0.74. 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 business’s 50 day moving average price is $30.61 and its 200-day moving average price is $28.97.

Endeavor Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were given a dividend of $0.06 per share. The ex-dividend date was Monday, December 16th. This represents a $0.24 annualized dividend and a yield of 0.76%. Endeavor Group’s dividend payout ratio (DPR) is presently -11.71%.

Hedge Funds Weigh In On Endeavor Group

Institutional investors and hedge funds have recently made changes to their positions in the company. LMR Partners LLP boosted its stake in Endeavor Group by 41.6% in the 3rd 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 during the period. Moran Wealth Management LLC acquired a new stake in shares of Endeavor Group during the third quarter worth $2,870,000. Geode Capital Management LLC boosted its position in shares of Endeavor Group by 4.0% in the third quarter. Geode Capital Management LLC now owns 2,077,887 shares of the company’s stock valued at $59,367,000 after acquiring an additional 79,212 shares during the period. Athos Capital Ltd increased its position in Endeavor Group by 135.9% during the third quarter. Athos Capital Ltd now owns 7,719,200 shares of the company’s stock worth $220,460,000 after acquiring an additional 4,447,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Endeavor Group by 4.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,778,869 shares of the company’s stock worth $50,804,000 after purchasing an additional 76,618 shares in the last quarter. 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.