Corbin Capital Partners L.P. Sells 350,000 Shares of Endeavor Group Holdings, Inc. (NYSE:EDR)

Corbin Capital Partners L.P. trimmed its position in Endeavor Group Holdings, Inc. (NYSE:EDR) by 27.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 918,496 shares of the company’s stock after selling 350,000 shares during the quarter. Endeavor Group makes up approximately 47.4% of Corbin Capital Partners L.P.’s holdings, making the stock its largest position. Corbin Capital Partners L.P. owned 0.13% of Endeavor Group worth $28,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EDR. Monimus Capital Management LP acquired a new stake in Endeavor Group during the fourth quarter worth about $5,176,000. Atala Financial Inc bought a new position in shares of Endeavor Group during the fourth quarter valued at approximately $907,000. Vestcor Inc raised its position in shares of Endeavor Group by 11.1% during the 4th quarter. Vestcor Inc now owns 44,441 shares of the company’s stock worth $1,391,000 after purchasing an additional 4,441 shares during the period. Swiss National Bank lifted its holdings in shares of Endeavor Group by 11.1% in the 4th quarter. Swiss National Bank now owns 393,600 shares of the company’s stock worth $12,316,000 after purchasing an additional 39,200 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its position in Endeavor Group by 5.3% during the 4th quarter. Moran Wealth Management LLC now owns 105,871 shares of the company’s stock valued at $3,313,000 after purchasing an additional 5,376 shares during the period. 74.99% of the stock is owned by institutional investors and hedge funds.

Endeavor Group Stock Down 0.7 %

EDR stock opened at $28.84 on Friday. The firm’s 50-day moving average is $30.76 and its two-hundred day moving average is $29.90. The company has a market capitalization of $19.80 billion, a price-to-earnings ratio of -14.07 and a beta of 0.72. Endeavor Group Holdings, Inc. has a 52 week low of $25.07 and a 52 week high of $35.99. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28.

Endeavor Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.83%. Endeavor Group’s dividend payout ratio (DPR) is -9.02%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EDR shares. Seaport Res Ptn cut Endeavor Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 11th. StockNews.com lowered shares of Endeavor Group from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Two equities 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.86.

Insider Buying and Selling at Endeavor Group

In other news, CAO Seth D. Krauss sold 13,280 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $30.03, for a total transaction of $398,798.40. Following the completion of the transaction, the chief accounting officer now owns 101,116 shares in the company, valued at approximately $3,036,513.48. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO William K. Fullerton sold 6,875 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.17, for a total transaction of $214,293.75. Following the completion of the sale, the chief accounting officer now owns 53,255 shares in the company, valued at $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 ninety days, insiders bought 1,212,077 shares of company stock valued at $191,824,043 and sold 146,905 shares valued at $4,418,864. 63.90% of the stock is currently owned by corporate insiders.

Endeavor Group 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.