Endeavor Group (NYSE:EDR) Reaches New 12-Month High on Insider Buying Activity

Endeavor Group Holdings, Inc. (NYSE:EDR) reached a new 52-week high on Thursday after an insider bought additional shares in the company. The company traded as high as $31.16 and last traded at $31.16, with a volume of 13681 shares. The stock had previously closed at $31.03.

Specifically, major shareholder Patrick Whitesell acquired 263,200 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $146.97 per share, for a total transaction of $38,682,504.00. Following the acquisition, the insider now owns 418,587 shares in the company, valued at $61,519,731.39. The trade was a 169.38 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Patrick Whitesell purchased 60,208 shares of Endeavor Group stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $143.73 per share, for a total transaction of $8,653,695.84. Following the transaction, the insider now directly owns 1,734,530 shares of the company’s stock, valued at approximately $249,303,996.90. This represents a 3.60 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Endeavor Group in a report on Monday, December 9th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.86.

Endeavor Group Stock Performance

The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of -15.17 and a beta of 0.76. The stock’s 50 day moving average price is $29.71 and its two-hundred day moving average price is $28.25.

Endeavor Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, December 16th. Endeavor Group’s dividend payout ratio (DPR) is presently -11.71%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pentwater Capital Management LP boosted its holdings in shares of Endeavor Group by 457.0% in the 2nd quarter. Pentwater Capital Management LP now owns 13,200,000 shares of the company’s stock valued at $356,796,000 after purchasing an additional 10,830,000 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in Endeavor Group in the second quarter valued at approximately $205,038,000. Athos Capital Ltd lifted its holdings in shares of Endeavor Group by 135.9% during 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 in the last quarter. Glazer Capital LLC purchased a new position in Endeavor Group in the second quarter valued at about $49,017,000. Finally, Polar Asset Management Partners Inc. lifted its stake in shares of Endeavor Group by 300.0% during 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. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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.