Endeavor Group (NYSE:EDR) Reaches New 52-Week High After 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 company traded as high as $34.89 and last traded at $34.78, with a volume of 511641 shares traded. The stock had previously closed at $34.56.

Specifically, major shareholder Patrick Whitesell bought 117,769 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was purchased at an average price of $175.40 per share, with a total value of $20,656,682.60. Following the purchase, the insider now owns 2,579,437 shares of the company’s stock, valued at $452,433,249.80. This trade represents a 4.78 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Patrick Whitesell purchased 116,256 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were purchased at an average cost of $172.03 per share, for a total transaction of $19,999,519.68. Following the completion of the purchase, the insider now directly owns 2,305,222 shares in the company, valued at $396,567,340.66. The trade was a 5.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In other news, major shareholder Patrick Whitesell acquired 177,861 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was acquired at an average price of $165.99 per share, with a total value of $29,523,147.39. Following the completion of the transaction, the insider now directly owns 2,188,966 shares in the company, valued at approximately $363,346,466.34. This represents a 8.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several research firms have commented on EDR. Seaport Res Ptn cut shares of Endeavor Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday. StockNews.com downgraded Endeavor Group from a “hold” rating to a “sell” rating in a research report on Monday, February 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.86.

Endeavor Group Stock Performance

The company has a market cap of $24.07 billion, a price-to-earnings ratio of -17.16 and a beta of 0.74. 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 stock’s fifty day simple moving average is $31.29 and its two-hundred day simple moving average is $29.49.

Endeavor Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.68%. Endeavor Group’s dividend payout ratio (DPR) is -11.71%.

Institutional Investors Weigh In On Endeavor Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Endeavor Group by 8.3% during the fourth quarter. Vanguard Group Inc. now owns 15,185,871 shares of the company’s stock worth $475,166,000 after acquiring an additional 1,167,887 shares during the last quarter. Athos Capital Ltd grew its stake in Endeavor Group by 135.9% during the 3rd 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 in the last quarter. LMR Partners LLP increased its holdings in Endeavor Group by 41.6% during the 3rd quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock worth $125,486,000 after purchasing an additional 1,290,867 shares during the last quarter. First Trust Advisors LP raised its position in shares of Endeavor Group by 15.8% in the 4th quarter. First Trust Advisors LP now owns 2,640,849 shares of the company’s stock valued at $82,632,000 after purchasing an additional 360,198 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Endeavor Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,088,210 shares of the company’s stock valued at $65,370,000 after buying an additional 10,323 shares during the last quarter. Hedge funds and other institutional investors 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.