Endeavor Group Holdings, Inc. (NYSE:EDR) Short Interest Up 7.6% in June

Endeavor Group Holdings, Inc. (NYSE:EDR) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 7,920,000 shares, an increase of 7.6% from the May 31st total of 7,360,000 shares. Based on an average daily trading volume, of 4,810,000 shares, the short-interest ratio is presently 1.6 days. Approximately 4.4% of the shares of the stock are short sold.

Endeavor Group Stock Up 0.6 %

NYSE:EDR traded up $0.17 during trading hours on Wednesday, reaching $27.20. 3,123,688 shares of the company traded hands, compared to its average volume of 3,888,854. The business’s 50-day moving average price is $26.72 and its two-hundred day moving average price is $25.42. The stock has a market capitalization of $18.85 billion, a P/E ratio of 49.46 and a beta of 0.78. Endeavor Group has a 1 year low of $17.65 and a 1 year high of $27.24. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44.

Endeavor Group (NYSE:EDR) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.50. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Endeavor Group had a return on equity of 2.86% and a net margin of 3.40%. Analysts predict that Endeavor Group will post 1.4 earnings per share for the current year.

Endeavor Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Friday, June 14th. Endeavor Group’s dividend payout ratio is currently 43.64%.

Analyst Upgrades and Downgrades

EDR has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “hold” rating and issued a $27.50 price objective (down from $29.00) on shares of Endeavor Group in a research report on Thursday, April 4th. Piper Sandler lowered Endeavor Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 13th. StockNews.com initiated coverage on Endeavor Group in a research report on Tuesday. They issued a “hold” rating on the stock. Citigroup lowered Endeavor Group from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $27.50 in a research report on Monday, April 15th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $27.50 price objective (down from $28.00) on shares of Endeavor Group in a research report on Wednesday, April 3rd. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.89.

Insider Activity at Endeavor Group

In related news, CAO William K. Fullerton sold 6,750 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $26.51, for a total transaction of $178,942.50. Following the transaction, the chief accounting officer now directly owns 46,600 shares of the company’s stock, valued at approximately $1,235,366. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Patrick Whitesell purchased 1,642,970 shares of Endeavor Group stock in a transaction that occurred on Tuesday, April 9th. The shares were acquired at an average cost of $89.01 per share, for a total transaction of $146,240,759.70. Following the transaction, the insider now directly owns 1,642,970 shares in the company, valued at $146,240,759.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William K. Fullerton sold 6,750 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $26.51, for a total value of $178,942.50. Following the transaction, the chief accounting officer now owns 46,600 shares in the company, valued at $1,235,366. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,246 shares of company stock valued at $1,843,419. Corporate insiders own 63.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Endeavor Group by 1.8% in the third quarter. Vanguard Group Inc. now owns 14,651,192 shares of the company’s stock worth $291,559,000 after purchasing an additional 254,550 shares during the last quarter. Morgan Stanley grew its holdings in shares of Endeavor Group by 3.8% in the third quarter. Morgan Stanley now owns 12,278,380 shares of the company’s stock worth $244,340,000 after acquiring an additional 454,790 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Endeavor Group by 5.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,527,575 shares of the company’s stock worth $107,439,000 after acquiring an additional 226,724 shares during the period. Steadfast Capital Management LP grew its holdings in shares of Endeavor Group by 17.9% in the first quarter. Steadfast Capital Management LP now owns 2,523,860 shares of the company’s stock worth $64,939,000 after acquiring an additional 384,000 shares during the period. Finally, Mubadala Investment Co PJSC bought a new stake in shares of Endeavor Group in the fourth quarter worth $52,983,000. Hedge funds and other institutional investors own 71.37% 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.