Endeavor Group (NYSE:EDR) Reaches New 1-Year High Following Insider Buying Activity

Endeavor Group Holdings, Inc. (NYSE:EDR)’s stock price hit a new 52-week high during mid-day trading on Friday following insider buying activity. The stock traded as high as $31.55 and last traded at $31.45, with a volume of 1526848 shares traded. The stock had previously closed at $30.90.

Specifically, major shareholder Patrick Whitesell acquired 125,589 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $143.06 per share, with a total value of $17,966,762.34. Following the purchase, the insider now owns 807,376 shares of the company’s stock, valued at approximately $115,503,210.56. This trade represents a 18.42 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Patrick Whitesell bought 108,476 shares of the stock in a transaction dated Tuesday, January 21st. The stock was bought at an average cost of $144.13 per share, with a total value of $15,634,645.88. Following the purchase, the insider now owns 915,852 shares in the company, valued at $132,001,748.76. The trade was a 13.44 % increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

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

Endeavor Group Trading Up 1.9 %

The stock has a market cap of $21.54 billion, a P/E ratio of -15.38 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. The stock’s fifty day moving average is $30.55 and its 200 day moving average is $28.94.

Endeavor Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors 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 0.76%. The ex-dividend date of this dividend was Monday, December 16th. Endeavor Group’s dividend payout ratio is currently -11.71%.

Institutional Investors Weigh In On Endeavor Group

Several large investors have recently added to or reduced their stakes in the stock. Athos Capital Ltd increased its holdings in shares of Endeavor Group by 135.9% in the 3rd quarter. Athos Capital Ltd now owns 7,719,200 shares of the company’s stock valued at $220,460,000 after acquiring an additional 4,447,000 shares during the period. Polar Asset Management Partners Inc. raised its holdings in Endeavor Group by 300.0% in the third quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company’s stock worth $57,120,000 after purchasing an additional 1,500,000 shares in the last quarter. LMR Partners LLP lifted its position in shares of Endeavor Group by 41.6% during the third quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock valued at $125,486,000 after buying an additional 1,290,867 shares during the last quarter. Water Island Capital LLC bought a new stake in shares of Endeavor Group in the 2nd quarter valued at about $28,497,000. Finally, Whitefort Capital Management LP purchased a new position in shares of Endeavor Group in the 3rd quarter worth approximately $28,560,000. 74.99% of the stock is owned by hedge funds and other institutional investors.

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.