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

Endeavor Group Holdings, Inc. (NYSE:EDR) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 11,660,000 shares, a growth of 138.4% from the January 31st total of 4,890,000 shares. Approximately 5.5% of the shares of the stock are short sold. Based on an average trading volume of 1,760,000 shares, the days-to-cover ratio is presently 6.6 days.

Analyst Upgrades and Downgrades

EDR has been the subject of a number of recent research reports. StockNews.com downgraded shares of Endeavor Group from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Seaport Res Ptn cut shares of Endeavor Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 11th. Two research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.86.

Endeavor Group Stock Up 4.2 %

NYSE EDR traded up $1.29 on Friday, reaching $32.05. The company had a trading volume of 964,027 shares, compared to its average volume of 1,690,828. The company’s fifty day moving average is $31.39 and its 200-day moving average is $29.78. The firm has a market capitalization of $21.93 billion, a price-to-earnings ratio of -15.63 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. Endeavor Group has a 1-year low of $23.51 and a 1-year high of $35.99.

Endeavor Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.75%. Endeavor Group’s payout ratio is presently -9.02%.

Insider Buying and Selling

In other news, 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 price of $175.40 per share, for a total transaction of $20,656,682.60. Following the completion of the acquisition, the insider now directly owns 2,579,437 shares in the company, valued at approximately $452,433,249.80. The trade was a 4.78 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William K. Fullerton sold 6,875 shares of Endeavor Group stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $31.17, for a total value of $214,293.75. Following the completion of the sale, the chief accounting officer now owns 53,255 shares of the company’s stock, valued at approximately $1,659,958.35. The trade was a 11.43 % 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 and have sold 146,905 shares worth $4,418,864. 63.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Endeavor Group

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