Endeavor Group (NYSE:EDR) Reaches New 52-Week High After Insider Buying Activity

Endeavor Group Holdings, Inc. (NYSE:EDR)’s stock price hit a new 52-week high during trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $34.89 and last traded at $34.78, with a volume of 511641 shares trading hands. The stock had previously closed at $34.56.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Seaport Res Ptn downgraded Endeavor Group from a “hold” rating to a “strong sell” rating in a report on Tuesday. StockNews.com cut shares of Endeavor Group from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.86.

Endeavor Group Stock Down 0.9 %

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 firm has a market capitalization of $24.07 billion, a price-to-earnings ratio of -17.16 and a beta of 0.74. The firm has a fifty day moving average price of $31.29 and a 200 day moving average price of $29.49.

Endeavor Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.68%. Endeavor Group’s payout ratio is currently -11.71%.

Hedge Funds Weigh In On Endeavor Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vest Financial LLC raised its holdings in Endeavor Group by 30.6% during the third quarter. Vest Financial LLC now owns 53,811 shares of the company’s stock worth $1,537,000 after purchasing an additional 12,623 shares during the last quarter. Palliser Capital UK Ltd increased its position in shares of Endeavor Group by 230.0% in the third quarter. Palliser Capital UK Ltd now owns 1,237,263 shares of the company’s stock valued at $35,336,000 after buying an additional 862,380 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Endeavor Group during the 3rd quarter worth $453,000. GSA Capital Partners LLP purchased a new stake in shares of Endeavor Group in the 3rd quarter worth about $364,000. Finally, Quest Partners LLC acquired a new stake in Endeavor Group in the 3rd quarter valued at about $2,001,000. 74.99% of the stock is owned by institutional investors and hedge funds.

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.