Endeavor Group (NYSE:EDR) Sees Large Volume Increase – Here’s What Happened

Endeavor Group Holdings, Inc. (NYSE:EDR) shares saw unusually-strong trading volume on Wednesday . Approximately 2,003,851 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 1,848,837 shares.The stock last traded at $29.62 and had previously closed at $30.20.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Endeavor Group from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Endeavor Group has a consensus rating of “Hold” and an average price target of $27.86.

Endeavor Group Stock Down 2.2 %

The business’s 50 day moving average is $30.49 and its 200 day moving average is $28.92. The company has a market capitalization of $20.21 billion, a price-to-earnings ratio of -14.41 and a beta of 0.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.63 and a current ratio of 0.63.

Endeavor Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Monday, December 16th. Endeavor Group’s payout ratio is presently -11.71%.

Insider Transactions at Endeavor Group

In related news, major shareholder Patrick Whitesell acquired 263,200 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of $146.97 per share, for a total transaction of $38,682,504.00. Following the transaction, the insider now owns 418,587 shares in the company, valued at $61,519,731.39. This trade represents a 169.38 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO William K. Fullerton sold 2,225 shares of Endeavor Group stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $30.58, for a total value of $68,040.50. Following the completion of the transaction, the chief accounting officer now directly owns 53,124 shares in the company, valued at $1,624,531.92. This represents a 4.02 % 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 modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of Endeavor Group by 176.1% during the 4th quarter. Blue Trust Inc. now owns 2,303 shares of the company’s stock valued at $66,000 after acquiring an additional 1,469 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Endeavor Group during the 4th quarter worth approximately $96,000. FMR LLC raised its position in Endeavor Group by 67.6% in the 3rd quarter. FMR LLC now owns 5,575 shares of the company’s stock valued at $159,000 after purchasing an additional 2,248 shares during the last quarter. KBC Group NV raised its position in Endeavor Group by 65.3% in the 4th quarter. KBC Group NV now owns 7,191 shares of the company’s stock valued at $225,000 after purchasing an additional 2,842 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Endeavor Group during the fourth quarter worth $233,000. Institutional investors and hedge funds 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.