Endeavor Group (NYSE:EDR) Sets New 52-Week High Following Insider Buying Activity

Endeavor Group Holdings, Inc. (NYSE:EDR)’s stock price hit a new 52-week high during trading on Thursday following insider buying activity. The company traded as high as $34.89 and last traded at $34.78, with a volume of 511641 shares. The stock had previously closed at $34.56.

Specifically, major shareholder Patrick Whitesell bought 117,769 shares of the stock in a transaction dated Wednesday, February 12th. The shares were bought at an average price of $175.40 per share, for a total transaction of $20,656,682.60. Following the completion of the purchase, the insider now owns 2,579,437 shares in the company, valued at approximately $452,433,249.80. This trade represents a 4.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Patrick Whitesell bought 116,256 shares of the stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $172.03 per share, for a total transaction of $19,999,519.68. Following the purchase, the insider now owns 2,305,222 shares of the company’s stock, valued at $396,567,340.66. This trade represents a 5.31 % increase in their position. The disclosure for this purchase can be found here. In related news, major shareholder Patrick Whitesell acquired 177,861 shares of the stock in a transaction on Friday, February 7th. The shares were purchased at an average price of $165.99 per share, for a total transaction of $29,523,147.39. Following the purchase, the insider now directly owns 2,188,966 shares in the company, valued at approximately $363,346,466.34. The trade was a 8.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Endeavor Group from a “hold” rating to a “sell” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Endeavor Group has an average rating of “Hold” and a consensus target price of $27.86.

Endeavor Group Stock Performance

The stock has a fifty day simple moving average of $31.09 and a two-hundred day simple moving average of $29.39. The stock has a market cap of $23.80 billion, a price-to-earnings ratio of -16.97 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Monday, December 16th. Endeavor Group’s dividend payout ratio (DPR) is -11.71%.

Institutional Investors Weigh In On Endeavor Group

Several hedge funds have recently modified their holdings of EDR. Blue Trust Inc. lifted its holdings in Endeavor Group by 176.1% during the 4th quarter. Blue Trust Inc. now owns 2,303 shares of the company’s stock worth $66,000 after buying an additional 1,469 shares during the period. FNY Investment Advisers LLC acquired a new position in Endeavor Group during the 4th quarter worth about $96,000. FMR LLC lifted its holdings in Endeavor Group by 67.6% during the 3rd quarter. FMR LLC now owns 5,575 shares of the company’s stock worth $159,000 after buying an additional 2,248 shares during the period. KBC Group NV lifted its holdings in Endeavor Group by 65.3% during the 4th quarter. KBC Group NV now owns 7,191 shares of the company’s stock worth $225,000 after buying an additional 2,842 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in Endeavor Group during the 4th quarter worth about $233,000. Institutional investors and hedge funds own 74.99% of the company’s stock.

About Endeavor Group

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.