Endeavor Group (NYSE:EDR) Hits New 52-Week High – Still a Buy?

Endeavor Group Holdings, Inc. (NYSE:EDR) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.46 and last traded at $31.45, with a volume of 230835 shares changing hands. The stock had previously closed at $31.29.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Endeavor Group from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.86.

Endeavor Group Price Performance

The company has a market cap of $21.35 billion, a PE ratio of -15.22 and a beta of 0.76. The stock has a fifty day moving average price of $30.15 and a 200-day moving average price of $28.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63.

Endeavor Group Announces Dividend

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

Insiders Place Their Bets

In other news, major shareholder Patrick Whitesell bought 263,200 shares of the company’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $146.97 per share, with a total value of $38,682,504.00. Following the transaction, the insider now directly owns 418,587 shares in the company, valued at approximately $61,519,731.39. This trade represents a 169.38 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ariel Emanuel sold 48,176 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $29.04, for a total value of $1,399,031.04. Following the sale, the chief executive officer now directly owns 1,831,247 shares of the company’s stock, valued at $53,179,412.88. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 63.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Longfellow Investment Management Co. LLC acquired a new position in Endeavor Group during the second quarter worth $75,000. FMR LLC increased its holdings in shares of Endeavor Group by 67.6% during the 3rd quarter. FMR LLC now owns 5,575 shares of the company’s stock valued at $159,000 after acquiring an additional 2,248 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Endeavor Group in the 2nd quarter valued at approximately $226,000. Everence Capital Management Inc. acquired a new stake in Endeavor Group in the 4th quarter worth approximately $233,000. Finally, Tidal Investments LLC boosted its position in Endeavor Group by 7.9% during the third quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock worth $243,000 after purchasing an additional 620 shares during the period. Institutional investors 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.