Endeavor Group (NYSE:EDR) Sets New 52-Week High – Here’s Why

Shares of Endeavor Group Holdings, Inc. (NYSE:EDR) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $30.71 and last traded at $30.66, with a volume of 9653 shares traded. The stock had previously closed at $30.60.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Endeavor Group in a research report on Monday, December 9th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Endeavor Group has a consensus rating of “Hold” and a consensus price target of $27.86.

Endeavor Group Price Performance

The stock’s fifty day moving average price is $29.56 and its 200-day moving average price is $28.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $21.04 billion, a PE ratio of -15.00 and a beta of 0.76.

Endeavor Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Monday, December 16th. Endeavor Group’s dividend payout ratio (DPR) is -11.71%.

Insider Activity

In related news, CEO Ariel Emanuel sold 149,280 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $28.10, for a total value of $4,194,768.00. Following the sale, the chief executive officer now directly owns 1,831,247 shares in the company, valued at approximately $51,458,040.70. The trade was a 7.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Patrick Whitesell purchased 60,208 shares of Endeavor Group stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $143.73 per share, for a total transaction of $8,653,695.84. Following the completion of the purchase, the insider now directly owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. This trade represents a 3.60 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 225,272 shares of company stock worth $6,372,925 over the last ninety days. Corporate insiders own 63.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC lifted its holdings in Endeavor Group by 7.9% during the 3rd quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock worth $243,000 after buying an additional 620 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Endeavor Group by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 50,444 shares of the company’s stock worth $1,364,000 after acquiring an additional 898 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Endeavor Group by 2.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,789 shares of the company’s stock valued at $1,165,000 after acquiring an additional 1,066 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Endeavor Group by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,054 shares of the company’s stock worth $1,245,000 after acquiring an additional 1,346 shares in the last quarter. Finally, Mirador Capital Partners LP lifted its stake in Endeavor Group by 6.7% during the third quarter. Mirador Capital Partners LP now owns 26,265 shares of the company’s stock worth $750,000 after purchasing an additional 1,655 shares during the last quarter. 74.99% of the stock is currently owned by hedge funds and other institutional investors.

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.