Endeavor Group (NYSE:EDR) Hits New 1-Year High on Insider Buying Activity

Endeavor Group Holdings, Inc. (NYSE:EDR)’s stock price hit a new 52-week high during mid-day trading on Thursday after an insider bought additional shares in the company. The stock 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 bought 263,200 shares of the business’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of $146.97 per share, with a total value of $38,682,504.00. Following the transaction, the insider now directly owns 418,587 shares in the company, valued at approximately $61,519,731.39. This trade represents a 169.38 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Patrick Whitesell purchased 60,208 shares of Endeavor Group stock in a transaction dated Thursday, December 12th. The shares were bought 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. The trade was a 3.60 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Endeavor Group in a report on Monday, December 9th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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 stock has a market capitalization of $21.27 billion, a PE ratio of -15.17 and a beta of 0.76. The firm’s 50-day simple moving average is $29.71 and its two-hundred day simple moving average is $28.25.

Endeavor Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 0.77%. The ex-dividend date of this dividend is Monday, December 16th. Endeavor Group’s dividend payout ratio (DPR) is currently -11.71%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new position in shares of Endeavor Group during the 2nd quarter valued at $75,000. SG Americas Securities LLC acquired a new position in Endeavor Group during the 2nd quarter worth $130,000. FMR LLC grew 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 purchasing an additional 2,248 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Endeavor Group in the second quarter worth about $226,000. Finally, Tidal Investments LLC boosted its stake in Endeavor Group by 7.9% during the 3rd quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock valued at $243,000 after purchasing an additional 620 shares during the period. 74.99% of the stock is 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.