Endeavor Group (NYSE:EDR) Sees Strong Trading Volume After Insider Buying Activity

Endeavor Group Holdings, Inc. (NYSE:EDR) saw strong trading volume on Wednesday following insider buying activity. 2,003,851 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 1,848,837 shares.The stock last traded at $29.62 and had previously closed at $30.20.

Specifically, major shareholder Patrick Whitesell acquired 108,476 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were bought at an average cost of $144.13 per share, with a total value of $15,634,645.88. Following the transaction, the insider now owns 915,852 shares in the company, valued at approximately $132,001,748.76. This trade represents a 13.44 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Endeavor Group from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Endeavor Group currently has an average rating of “Hold” and a consensus target price of $27.86.

Endeavor Group Price Performance

The stock has a market capitalization of $21.59 billion, a price-to-earnings ratio of -15.40 and a beta of 0.74. 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 company’s 50 day moving average is $30.55 and its 200 day moving average is $28.94.

Endeavor Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, December 16th. Endeavor Group’s dividend payout ratio (DPR) is currently -11.71%.

Institutional Trading of Endeavor Group

Large investors have recently made changes to their positions in the company. Athos Capital Ltd lifted its stake 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 buying an additional 4,447,000 shares during the last quarter. LMR Partners LLP grew its position in shares of Endeavor Group by 41.6% during the third quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock worth $125,486,000 after acquiring an additional 1,290,867 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Endeavor Group by 4.0% in the 3rd 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 during the period. Polar Asset Management Partners Inc. raised its position in Endeavor Group by 300.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company’s stock valued at $57,120,000 after purchasing an additional 1,500,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Endeavor Group by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,778,869 shares of the company’s stock worth $50,804,000 after purchasing an additional 76,618 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.