Endeavor Group Holdings, Inc. (NYSE:EDR) Sees Significant Decline in Short Interest

Endeavor Group Holdings, Inc. (NYSE:EDR) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 11,130,000 shares, a decrease of 9.6% from the November 15th total of 12,310,000 shares. Based on an average daily volume of 2,470,000 shares, the days-to-cover ratio is currently 4.5 days. Currently, 5.3% of the shares of the company are sold short.

Insider Buying and Selling at Endeavor Group

In other Endeavor Group news, CEO Ariel Emanuel sold 149,280 shares of Endeavor Group stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $28.10, for a total value of $4,194,768.00. Following the transaction, the chief executive officer now directly owns 1,831,247 shares of the company’s stock, valued at $51,458,040.70. The trade was a 7.54 % 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 acquired 60,208 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $143.73 per share, for a total transaction of $8,653,695.84. Following the completion of the transaction, the insider now owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. The trade was a 3.60 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 225,272 shares of company stock worth $6,372,925 in the last quarter. 63.90% of the stock is currently owned by company insiders.

Institutional Trading of Endeavor Group

Large investors have recently modified their holdings of the stock. Longfellow Investment Management Co. LLC acquired a new position in Endeavor Group in the second quarter valued at $75,000. SG Americas Securities LLC acquired a new stake in shares of Endeavor Group during the second quarter worth about $130,000. FMR LLC boosted its stake in shares of Endeavor Group by 67.6% during the third 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. CIBC Asset Management Inc purchased a new position in Endeavor Group during the second quarter worth about $226,000. Finally, Tidal Investments LLC raised its holdings in Endeavor Group by 7.9% during the third quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock worth $243,000 after purchasing an additional 620 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Endeavor Group in a research note on Monday, December 9th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Endeavor Group has an average rating of “Hold” and an average price target of $27.86.

Endeavor Group Trading Down 0.1 %

EDR traded down $0.04 during trading hours on Tuesday, reaching $31.01. The company’s stock had a trading volume of 10,310,536 shares, compared to its average volume of 3,367,363. The stock has a market cap of $21.22 billion, a PE ratio of -15.13 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63. Endeavor Group has a fifty-two week low of $22.75 and a fifty-two week high of $31.14. The business’s 50-day moving average is $29.63 and its 200-day moving average is $28.21.

Endeavor Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, December 16th. Endeavor Group’s dividend payout ratio is currently -11.71%.

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.