Endeavor Group (NYSE:EDR) Hits New 1-Year High - Here's What Happened

Endeavor Group Holdings, Inc. (NYSE:EDR - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $31.42 and last traded at $31.29, with a volume of 556010 shares traded. The stock had previously closed at $31.20.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Endeavor Group in a research report on Monday, December 9th. They set a "sell" rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $27.86.

Endeavor Group Stock Performance

The company has a market capitalization of $21.41 billion, a PE ratio of -15.26 and a beta of 0.76. The stock's 50-day simple moving average is $29.86 and its 200 day simple moving average is $28.39. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Monday, December 16th. Endeavor Group's dividend payout ratio (DPR) is presently -11.71%.

Insiders Place Their Bets

In other Endeavor Group news, CEO Ariel Emanuel sold 48,176 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $29.04, for a total transaction of $1,399,031.04. Following the sale, the chief executive officer now owns 1,831,247 shares of the company's stock, valued at approximately $53,179,412.88. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Patrick Whitesell bought 263,200 shares of the stock in a transaction dated Monday, December 16th. The stock was bought at an average price of $146.97 per share, with a total value of $38,682,504.00. Following the acquisition, the insider now owns 418,587 shares in the company, valued at approximately $61,519,731.39. This represents a 169.38 % increase in their position. The disclosure for this purchase can be found here. 63.90% of the stock is owned by company insiders.

Institutional Trading of Endeavor Group

A number of hedge funds and other institutional investors have recently made changes to their positions in EDR. Longfellow Investment Management Co. LLC acquired a new position in shares of Endeavor Group in the 2nd quarter valued at $75,000. FMR LLC increased its stake in Endeavor Group by 67.6% in the third quarter. FMR LLC now owns 5,575 shares of the company's stock valued at $159,000 after purchasing an additional 2,248 shares during the period. CIBC Asset Management Inc purchased a new stake in shares of Endeavor Group in the second quarter valued at about $226,000. Tidal Investments LLC boosted its stake in shares of 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 buying an additional 620 shares during the period. Finally, ProShare Advisors LLC purchased a new position in shares of Endeavor Group during the second quarter worth about $255,000. 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.