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

Endeavor Group Holdings, Inc. (NYSE:EDR) was the target of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 14,340,000 shares, a decline of 7.4% from the September 30th total of 15,480,000 shares. Based on an average daily volume of 3,350,000 shares, the short-interest ratio is currently 4.3 days. Approximately 7.4% of the shares of the company are sold short.

Endeavor Group Price Performance

NYSE:EDR traded up $0.09 during trading hours on Thursday, hitting $29.50. 3,056,863 shares of the company’s stock traded hands, compared to its average volume of 3,616,660. Endeavor Group has a 52 week low of $22.59 and a 52 week high of $29.54. The business’s fifty day simple moving average is $28.34 and its two-hundred day simple moving average is $27.43. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. The firm has a market cap of $20.19 billion, a P/E ratio of -20.42 and a beta of 0.78.

Endeavor Group (NYSE:EDR) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06). Endeavor Group had a positive return on equity of 4.45% and a negative net margin of 6.23%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.87 billion. On average, research analysts anticipate that Endeavor Group will post 1.4 earnings per share for the current fiscal year.

Endeavor Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.06 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.81%. Endeavor Group’s dividend payout ratio is presently -16.67%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Endeavor Group in a report on Wednesday. They set a “hold” rating on the stock. 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, the company presently has a consensus rating of “Hold” and an average target price of $27.86.

Insiders Place Their Bets

In other news, CEO Ariel Emanuel sold 149,280 shares of Endeavor Group stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $28.10, for a total transaction of $4,194,768.00. Following the sale, the chief executive officer now directly owns 1,831,247 shares in the company, valued at $51,458,040.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 225,272 shares of company stock valued at $6,372,925. Insiders own 63.90% of the company’s stock.

Institutional Investors Weigh In On Endeavor Group

Hedge funds have recently added to or reduced their stakes in the company. Palliser Capital UK Ltd lifted its position in Endeavor Group by 230.0% in the 3rd quarter. Palliser Capital UK Ltd now owns 1,237,263 shares of the company’s stock worth $35,336,000 after buying an additional 862,380 shares during the last quarter. Vest Financial LLC lifted its holdings in shares of Endeavor Group by 30.6% in the 3rd quarter. Vest Financial LLC now owns 53,811 shares of the company’s stock worth $1,537,000 after acquiring an additional 12,623 shares during the last quarter. Mirador Capital Partners LP boosted its stake in shares of Endeavor Group by 6.7% in the 3rd quarter. Mirador Capital Partners LP now owns 26,265 shares of the company’s stock valued at $750,000 after purchasing an additional 1,655 shares in the last quarter. Bardin Hill Management Partners LP grew its holdings in shares of Endeavor Group by 23.1% during the 2nd quarter. Bardin Hill Management Partners LP now owns 673,889 shares of the company’s stock valued at $18,215,000 after purchasing an additional 126,237 shares during the last quarter. Finally, Bluefin Capital Management LLC raised its position in Endeavor Group by 138.0% in the 2nd quarter. Bluefin Capital Management LLC now owns 50,000 shares of the company’s stock worth $1,352,000 after purchasing an additional 181,421 shares during the period. Institutional investors own 71.37% 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.