Endeavor Group (NYSE:EDR) Sees Strong Trading Volume – Time to Buy?

Endeavor Group Holdings, Inc. (NYSE:EDR) saw unusually-strong trading volume on Thursday . Approximately 988,937 shares traded hands during trading, an increase of 32% from the previous session’s volume of 747,712 shares.The stock last traded at $30.35 and had previously closed at $30.32.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Endeavor Group from a “sell” rating to a “hold” rating in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.86.

Endeavor Group Stock Performance

The firm has a market cap of $20.84 billion, a PE ratio of -14.86 and a beta of 0.74. The stock has a 50-day moving average price of $30.36 and a 200 day moving average price of $28.81. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Monday, December 16th. Endeavor Group’s dividend payout ratio is currently -11.71%.

Insider Transactions at Endeavor Group

In other Endeavor Group news, major shareholder Patrick Whitesell purchased 60,208 shares of Endeavor Group stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $143.73 per share, with a total value of $8,653,695.84. Following the completion of the transaction, the insider now directly owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. This represents a 3.60 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO William K. Fullerton sold 6,875 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $31.17, for a total transaction of $214,293.75. Following the sale, the chief accounting officer now directly owns 53,255 shares of the company’s stock, valued at approximately $1,659,958.35. This trade represents a 11.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 63.90% of the company’s stock.

Hedge Funds Weigh In On Endeavor Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new stake in shares of Endeavor Group during the fourth quarter valued at approximately $96,000. FMR LLC lifted its holdings in Endeavor Group by 67.6% in the 3rd quarter. FMR LLC now owns 5,575 shares of the company’s stock worth $159,000 after buying an additional 2,248 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Endeavor Group in the fourth quarter valued at about $233,000. Tidal Investments LLC increased its stake in shares of Endeavor Group by 7.9% in the third quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock worth $243,000 after buying an additional 620 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in Endeavor Group in the second quarter valued at $255,000. 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.