Endeavor Group Holdings, Inc. (NYSE:EDR) Sees Significant Decline in Short Interest

Endeavor Group Holdings, Inc. (NYSE:EDR) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 4,890,000 shares, a decline of 22.1% from the January 15th total of 6,280,000 shares. Based on an average trading volume of 1,810,000 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.3% of the company’s stock are short sold.

Endeavor Group Stock Down 0.9 %

Endeavor Group stock traded down $0.32 during midday trading on Monday, reaching $35.18. The company’s stock had a trading volume of 237,254 shares, compared to its average volume of 2,581,985. Endeavor Group has a 52-week low of $23.14 and a 52-week high of $35.99. The stock has a market capitalization of $24.07 billion, a P/E ratio of -17.16 and a beta of 0.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63. The stock’s 50-day simple moving average is $31.29 and its 200-day simple moving average is $29.52.

Endeavor Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Friday, February 28th. Endeavor Group’s dividend payout ratio is presently -11.71%.

Insiders Place Their Bets

In related news, CAO William K. Fullerton sold 2,225 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $30.58, for a total transaction of $68,040.50. Following the completion of the transaction, the chief accounting officer now directly owns 53,124 shares of the company’s stock, valued at approximately $1,624,531.92. This trade represents a 4.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Patrick Whitesell purchased 117,769 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were acquired at an average cost of $175.40 per share, for a total transaction of $20,656,682.60. Following the purchase, the insider now owns 2,579,437 shares of the company’s stock, valued at $452,433,249.80. This represents a 4.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,535,485 shares of company stock valued at $239,160,243. 63.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Endeavor Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kapitalo Investimentos Ltda acquired a new position in Endeavor Group in the fourth quarter valued at approximately $51,000. Blue Trust Inc. increased its holdings in Endeavor Group by 176.1% in the fourth quarter. Blue Trust Inc. now owns 2,303 shares of the company’s stock valued at $66,000 after buying an additional 1,469 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Endeavor Group during the 4th quarter worth about $96,000. BNP Paribas Financial Markets acquired a new stake in shares of Endeavor Group during the 4th quarter valued at about $120,000. Finally, FMR LLC increased its position in shares of Endeavor Group by 67.6% in the third quarter. FMR LLC now owns 5,575 shares of the company’s stock valued at $159,000 after buying an additional 2,248 shares in the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EDR has been the subject of several analyst reports. StockNews.com lowered Endeavor Group from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Seaport Res Ptn lowered shares of Endeavor Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.86.

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.