Endeavor Group (NYSE:EDR) Sees Strong Trading Volume – Time to Buy?

Endeavor Group Holdings, Inc. (NYSE:EDR) saw strong trading volume on Wednesday . 2,003,851 shares traded hands during trading, an increase of 8% from the previous session’s volume of 1,848,837 shares.The stock last traded at $29.62 and had previously closed at $30.20.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Endeavor Group from a “sell” rating to a “hold” rating in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.86.

Endeavor Group Stock Down 2.2 %

The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $20.21 billion, a price-to-earnings ratio of -14.41 and a beta of 0.74. The firm’s 50 day moving average price is $30.49 and its two-hundred day moving average price is $28.92.

Endeavor Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.81%. Endeavor Group’s payout ratio is -11.71%.

Insider Transactions at Endeavor Group

In other news, major shareholder Patrick Whitesell bought 263,200 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $146.97 per share, for a total transaction of $38,682,504.00. Following the acquisition, the insider now directly owns 418,587 shares of the company’s stock, valued at $61,519,731.39. The trade was a 169.38 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO William K. Fullerton sold 2,225 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $30.58, for a total value of $68,040.50. Following the completion of the transaction, the chief accounting officer now directly owns 53,124 shares in the company, valued at approximately $1,624,531.92. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 63.90% of the company’s stock.

Institutional Trading of Endeavor Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Athos Capital Ltd lifted its position in shares of Endeavor Group by 135.9% in the third quarter. Athos Capital Ltd now owns 7,719,200 shares of the company’s stock worth $220,460,000 after buying an additional 4,447,000 shares during the last quarter. LMR Partners LLP increased its position in shares of Endeavor Group by 41.6% in the 3rd quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock valued at $125,486,000 after buying an additional 1,290,867 shares in the last quarter. Geode Capital Management LLC increased its holdings in Endeavor Group by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,077,887 shares of the company’s stock worth $59,367,000 after purchasing an additional 79,212 shares in the last quarter. Polar Asset Management Partners Inc. grew its holdings in shares of Endeavor Group by 300.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company’s stock valued at $57,120,000 after acquiring an additional 1,500,000 shares in the last quarter. Finally, Glazer Capital LLC acquired a new stake in Endeavor Group in the 2nd quarter valued at about $49,017,000. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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.