Traders Purchase Large Volume of Endeavor Group Put Options (NYSE:EDR)

Endeavor Group Holdings, Inc. (NYSE:EDR) was the target of unusually large options trading on Thursday. Stock investors acquired 28,256 put options on the stock. This represents an increase of 990% compared to the typical daily volume of 2,592 put options.

Endeavor Group Stock Up 0.2 %

Shares of Endeavor Group stock opened at $27.71 on Friday. The company has a market cap of $19.20 billion, a P/E ratio of 50.38 and a beta of 0.77. The firm has a fifty day moving average of $27.42 and a two-hundred day moving average of $26.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.62 and a current ratio of 0.62. Endeavor Group has a one year low of $17.65 and a one year high of $27.71.

Endeavor Group (NYSE:EDR) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). Endeavor Group had a negative net margin of 6.23% and a positive return on equity of 4.45%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.87 billion. On average, analysts forecast that Endeavor Group will post 1.4 earnings per share for the current year.

Endeavor Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 16th. Endeavor Group’s dividend payout ratio is presently 43.64%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Endeavor Group in a research note on Thursday, September 12th. They set a “hold” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.86.

Insider Transactions at Endeavor Group

In related news, CFO Jason Lublin sold 20,832 shares of Endeavor Group stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $27.28, for a total transaction of $568,296.96. Following the transaction, the chief financial officer now owns 130,187 shares in the company, valued at $3,551,501.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 63.90% of the company’s stock.

Institutional Investors Weigh In On Endeavor Group

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Endeavor Group by 1.6% during the first quarter. Vanguard Group Inc. now owns 13,683,577 shares of the company’s stock worth $352,078,000 after purchasing an additional 219,384 shares during the last quarter. Pentwater Capital Management LP boosted its stake in Endeavor Group by 457.0% in the 2nd quarter. Pentwater Capital Management LP now owns 13,200,000 shares of the company’s stock worth $356,796,000 after buying an additional 10,830,000 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new stake in Endeavor Group in the 2nd quarter valued at about $205,038,000. Clearbridge Investments LLC increased its stake in shares of Endeavor Group by 5.3% during the 4th quarter. Clearbridge Investments LLC now owns 4,527,575 shares of the company’s stock valued at $107,439,000 after acquiring an additional 226,724 shares during the last quarter. Finally, Steadfast Capital Management LP lifted its holdings in shares of Endeavor Group by 17.9% during the 1st quarter. Steadfast Capital Management LP now owns 2,523,860 shares of the company’s stock worth $64,939,000 after acquiring an additional 384,000 shares during the period. 71.37% 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.