Covestor Ltd Decreases Stake in Endeavor Group Holdings, Inc. (NYSE:EDR)

Covestor Ltd cut its holdings in Endeavor Group Holdings, Inc. (NYSE:EDR) by 43.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,623 shares of the company’s stock after selling 12,652 shares during the quarter. Endeavor Group makes up approximately 0.3% of Covestor Ltd’s holdings, making the stock its 29th largest holding. Covestor Ltd’s holdings in Endeavor Group were worth $475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Longfellow Investment Management Co. LLC purchased a new position in shares of Endeavor Group during the second quarter valued at approximately $75,000. DekaBank Deutsche Girozentrale bought a new stake in Endeavor Group in the first quarter worth $102,000. SG Americas Securities LLC bought a new position in shares of Endeavor Group during the second quarter valued at $130,000. CIBC Asset Management Inc bought a new position in shares of Endeavor Group during the second quarter valued at $226,000. Finally, ProShare Advisors LLC purchased a new position in shares of Endeavor Group in the 2nd quarter worth about $255,000. Institutional investors own 71.37% of the company’s stock.

Endeavor Group Price Performance

EDR opened at $28.95 on Friday. The company’s 50-day simple moving average is $28.57 and its two-hundred day simple moving average is $27.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market capitalization of $19.81 billion, a P/E ratio of -20.10 and a beta of 0.77. Endeavor Group Holdings, Inc. has a 52-week low of $22.64 and a 52-week high of $29.67.

Endeavor Group (NYSE:EDR) last released 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 negative net margin of 6.23% and a positive return on equity of 4.45%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.87 billion. As a group, analysts predict that Endeavor Group Holdings, Inc. will post 1.98 EPS for the current year.

Endeavor Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, September 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.83%. Endeavor Group’s dividend payout ratio is presently -16.67%.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Endeavor Group in a research report on Thursday. They set a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $27.86.

Insider Activity

In related news, CEO Ariel Emanuel sold 48,176 shares of Endeavor Group stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $29.04, for a total value of $1,399,031.04. Following the completion of the sale, the chief executive officer now owns 1,831,247 shares of the company’s stock, valued at $53,179,412.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 225,272 shares of company stock valued at $6,372,925 in the last ninety days. 63.90% of the stock is currently owned by company insiders.

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.