Glazer Capital LLC Purchases Shares of 1,813,437 Endeavor Group Holdings, Inc. (NYSE:EDR)

Glazer Capital LLC bought a new position in shares of Endeavor Group Holdings, Inc. (NYSE:EDR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,813,437 shares of the company’s stock, valued at approximately $49,017,000. Endeavor Group makes up approximately 3.8% of Glazer Capital LLC’s portfolio, making the stock its 7th largest position. Glazer Capital LLC owned about 0.26% of Endeavor Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of EDR. Longfellow Investment Management Co. LLC bought a new stake in Endeavor Group in the second quarter valued at approximately $75,000. PNC Financial Services Group Inc. increased its holdings in shares of Endeavor Group by 14.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,200 shares of the company’s stock worth $76,000 after acquiring an additional 399 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Endeavor Group in the 1st quarter valued at $102,000. SG Americas Securities LLC acquired a new stake in Endeavor Group during the 2nd quarter valued at $130,000. Finally, Quest Partners LLC bought a new position in Endeavor Group during the fourth quarter worth $177,000. 71.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Endeavor Group in a research note on Friday. They set a “hold” rating for the company. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Endeavor Group currently has a consensus rating of “Hold” and a consensus price target of $27.86.

Endeavor Group Price Performance

Shares of Endeavor Group stock opened at $27.91 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $19.34 billion, a price-to-earnings ratio of 50.75 and a beta of 0.77. Endeavor Group Holdings, Inc. has a twelve month low of $17.65 and a twelve month high of $28.10. The company has a 50-day simple moving average of $27.45 and a two-hundred day simple moving average of $26.79.

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

Endeavor Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, September 16th. Endeavor Group’s dividend payout ratio (DPR) is currently 43.64%.

Insider Buying and Selling

In other news, CFO Jason Lublin sold 20,832 shares of Endeavor Group stock in a transaction on Monday, July 29th. The stock was sold at an average price of $27.28, for a total value of $568,296.96. Following the transaction, the chief financial officer now owns 130,187 shares in the company, valued at approximately $3,551,501.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 63.90% of the stock is owned by company insiders.

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.