Endeavor Group Holdings, Inc. (NYSE:EDR) Sees Large Drop in Short Interest

Endeavor Group Holdings, Inc. (NYSE:EDR) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 11,130,000 shares, a decline of 9.6% from the November 15th total of 12,310,000 shares. Approximately 5.3% of the company’s stock are sold short. Based on an average trading volume of 2,470,000 shares, the days-to-cover ratio is currently 4.5 days.

Endeavor Group Trading Up 0.1 %

NYSE EDR opened at $30.75 on Friday. Endeavor Group has a 12 month low of $22.75 and a 12 month high of $30.83. The company has a 50-day moving average of $29.56 and a 200-day moving average of $28.14. 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 company has a market cap of $21.04 billion, a P/E ratio of -15.00 and a beta of 0.76.

Endeavor Group Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Monday, December 16th. Endeavor Group’s dividend payout ratio is currently -11.71%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, major shareholder Patrick Whitesell purchased 60,208 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $143.73 per share, for a total transaction of $8,653,695.84. Following the completion of the purchase, the insider now directly owns 1,734,530 shares of the company’s stock, valued at $249,303,996.90. The trade was a 3.60 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ariel Emanuel sold 27,816 shares of Endeavor Group stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $28.01, for a total transaction of $779,126.16. Following the completion of the transaction, the chief executive officer now owns 1,831,247 shares of the company’s stock, valued at $51,293,228.47. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,272 shares of company stock worth $6,372,925 over the last 90 days. 63.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Pentwater Capital Management LP grew its position in Endeavor Group by 457.0% in the second quarter. Pentwater Capital Management LP now owns 13,200,000 shares of the company’s stock valued at $356,796,000 after acquiring an additional 10,830,000 shares in the last quarter. Athos Capital Ltd grew its position in Endeavor Group by 135.9% in the third 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. Davidson Kempner Capital Management LP acquired a new stake in Endeavor Group in the second quarter valued at approximately $205,038,000. LMR Partners LLP grew its position in Endeavor Group by 41.6% in the third quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock valued at $125,486,000 after acquiring an additional 1,290,867 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Endeavor Group by 4.0% in the third quarter. Geode Capital Management LLC now owns 2,077,887 shares of the company’s stock valued at $59,367,000 after acquiring an additional 79,212 shares in the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

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.