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

Endeavor Group Holdings, Inc. (NYSE:EDR) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 7,920,000 shares, a growth of 7.6% from the May 31st total of 7,360,000 shares. Currently, 4.4% of the company’s shares are sold short. Based on an average daily trading volume, of 4,810,000 shares, the days-to-cover ratio is currently 1.6 days.

Insider Buying and Selling

In other Endeavor Group news, CAO William K. Fullerton sold 6,750 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 46,600 shares in the company, valued at $1,235,366. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO William K. Fullerton sold 6,750 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $26.51, for a total value of $178,942.50. Following the completion of the sale, the chief accounting officer now owns 46,600 shares of the company’s stock, valued at $1,235,366. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Lublin sold 20,832 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $26.52, for a total value of $552,464.64. Following the sale, the chief financial officer now owns 130,187 shares in the company, valued at $3,452,559.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,246 shares of company stock valued at $1,843,419. 63.90% of the stock is currently owned by company insiders.

Institutional Trading of Endeavor Group

A number of large investors have recently added to or reduced their stakes in EDR. Lindbrook Capital LLC boosted its stake in shares of Endeavor Group by 200.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,540 shares of the company’s stock worth $37,000 after acquiring an additional 1,027 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Endeavor Group by 14.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,200 shares of the company’s stock worth $76,000 after purchasing an additional 399 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Endeavor Group during the 1st quarter worth about $102,000. Quest Partners LLC purchased a new stake in Endeavor Group during the fourth quarter valued at about $177,000. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Endeavor Group in the first quarter worth about $267,000. 71.37% of the stock is currently owned by institutional investors.

Endeavor Group Stock Performance

EDR opened at $27.20 on Thursday. Endeavor Group has a 1-year low of $17.65 and a 1-year high of $27.24. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of 49.46 and a beta of 0.78. The business has a 50 day moving average price of $26.72 and a two-hundred day moving average price of $25.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.16 and a quick ratio of 1.16.

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

Endeavor Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on EDR shares. Piper Sandler downgraded shares of Endeavor Group from a “strong-buy” rating to a “hold” rating in a report on Monday, May 13th. TD Cowen boosted their price objective on shares of Endeavor Group from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, March 25th. Seaport Res Ptn cut shares of Endeavor Group from a “buy” rating to a “neutral” rating in a report on Tuesday, April 2nd. StockNews.com began coverage on Endeavor Group in a report on Tuesday. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $27.50 target price (down from $29.00) on shares of Endeavor Group in a research report on Thursday, April 4th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.89.

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.