Endeavor Group (NYSE:EDR) Stock Price Down 5.7% – Here’s What Happened

Endeavor Group Holdings, Inc. (NYSE:EDR)’s stock price was down 5.7% during mid-day trading on Tuesday . The company traded as low as $34.17 and last traded at $33.16. Approximately 29,258 shares traded hands during trading, a decline of 99% from the average daily volume of 1,985,523 shares. The stock had previously closed at $35.17.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com cut Endeavor Group from a “hold” rating to a “sell” rating in a report on Monday, February 10th. Seaport Res Ptn downgraded Endeavor Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.86.

Endeavor Group Stock Performance

The stock has a market capitalization of $20.99 billion, a price-to-earnings ratio of -14.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a fifty day simple moving average of $31.39 and a two-hundred day simple moving average of $29.59.

Endeavor Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.78%. Endeavor Group’s payout ratio is currently -11.71%.

Insiders Place Their Bets

In related news, major shareholder Patrick Whitesell acquired 117,769 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were purchased at an average price of $175.40 per share, for a total transaction of $20,656,682.60. Following the completion of the acquisition, the insider now owns 2,579,437 shares of the company’s stock, valued at approximately $452,433,249.80. This trade represents a 4.78 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William K. Fullerton sold 2,225 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $30.58, for a total value of $68,040.50. Following the completion of the sale, the chief accounting officer now directly owns 53,124 shares of the company’s stock, valued at $1,624,531.92. The trade was a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,535,485 shares of company stock worth $239,160,243. Corporate insiders own 63.90% of the company’s stock.

Hedge Funds Weigh In On Endeavor Group

A number of large investors have recently modified their holdings of EDR. Guggenheim Capital LLC increased its stake in Endeavor Group by 2.0% during the 4th quarter. Guggenheim Capital LLC now owns 15,276 shares of the company’s stock valued at $478,000 after purchasing an additional 304 shares in the last quarter. Fifth Lane Capital LP raised its holdings in shares of Endeavor Group by 0.3% in the 4th quarter. Fifth Lane Capital LP now owns 110,364 shares of the company’s stock worth $3,453,000 after acquiring an additional 364 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Endeavor Group by 5.1% in the 4th quarter. Tidal Investments LLC now owns 8,930 shares of the company’s stock worth $279,000 after acquiring an additional 432 shares during the last quarter. CIBC Asset Management Inc lifted its position in Endeavor Group by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 9,108 shares of the company’s stock valued at $285,000 after acquiring an additional 447 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Endeavor Group by 5.3% during the 4th quarter. Invesco Ltd. now owns 10,044 shares of the company’s stock valued at $314,000 after purchasing an additional 505 shares during the last quarter. 74.99% of the stock is currently owned by institutional investors.

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.