Investors Buy Large Volume of Put Options on Endeavor Group (NYSE:EDR)

Endeavor Group Holdings, Inc. (NYSE:EDR) was the target of unusually large options trading activity on Friday. Stock investors acquired 300,267 put options on the stock. This represents an increase of approximately 2,469% compared to the average daily volume of 11,686 put options.

Endeavor Group Stock Down 0.1 %

Shares of Endeavor Group stock opened at $30.75 on Friday. The company has a market cap of $21.04 billion, a P/E ratio of -15.00 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 one year low of $23.14 and a one year high of $35.99. The firm has a fifty day moving average of $31.40 and a two-hundred day moving average of $29.65.

Endeavor Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.06 dividend. 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 0.78%. Endeavor Group’s dividend payout ratio is presently -11.71%.

Insider Transactions at Endeavor Group

In related news, CAO William K. Fullerton sold 2,225 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $30.58, for a total transaction of $68,040.50. Following the completion of the sale, the chief accounting officer now owns 53,124 shares in the company, valued at $1,624,531.92. This represents a 4.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Patrick Whitesell purchased 60,208 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $143.73 per share, with a total value of $8,653,695.84. Following the purchase, the insider now owns 1,734,530 shares in the company, valued at $249,303,996.90. This trade represents a 3.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,535,485 shares of company stock worth $239,160,243. 63.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Endeavor Group

A number of large investors have recently made changes to their positions in the stock. Ascent Group LLC increased its holdings in shares of Endeavor Group by 21.8% in the 4th quarter. Ascent Group LLC now owns 89,711 shares of the company’s stock valued at $2,807,000 after purchasing an additional 16,080 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of Endeavor Group in the 4th quarter valued at about $810,000. Vise Technologies Inc. purchased a new position in shares of Endeavor Group in the 4th quarter valued at about $238,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Endeavor Group by 25.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 397,718 shares of the company’s stock valued at $12,445,000 after purchasing an additional 80,680 shares in the last quarter. Finally, Vident Advisory LLC purchased a new position in shares of Endeavor Group in the 4th quarter valued at about $480,000. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Analysts Set New Price Targets

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

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.