Xn LP Has $36.85 Million Stock Position in Endeavor Group Holdings, Inc. (NYSE:EDR)

XN LP cut its holdings in Endeavor Group Holdings, Inc. (NYSE:EDR - Free Report) by 72.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,363,415 shares of the company's stock after selling 3,502,642 shares during the quarter. Endeavor Group makes up 1.5% of XN LP's portfolio, making the stock its 20th largest position. XN LP owned 0.20% of Endeavor Group worth $36,853,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EDR. Charles Schwab Investment Management Inc. increased its stake in shares of Endeavor Group by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,614,096 shares of the company's stock valued at $38,302,000 after buying an additional 14,846 shares in the last quarter. Clearbridge Investments LLC increased its position in Endeavor Group by 5.3% in the fourth quarter. Clearbridge Investments LLC now owns 4,527,575 shares of the company's stock worth $107,439,000 after purchasing an additional 226,724 shares during the period. Quest Partners LLC acquired a new stake in Endeavor Group in the fourth quarter worth about $177,000. Bank of Nova Scotia acquired a new stake in Endeavor Group in the fourth quarter worth about $380,000. Finally, DLD Asset Management LP acquired a new stake in Endeavor Group in the fourth quarter worth about $522,000. 71.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Endeavor Group in a research report on Thursday, September 12th. They issued a "hold" rating for the company. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $27.86.

Endeavor Group Trading Up 0.2 %

EDR traded up $0.06 during midday trading on Wednesday, reaching $27.64. 5,313,603 shares of the company were exchanged, compared to its average volume of 3,712,300. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.62 and a current ratio of 0.62. Endeavor Group Holdings, Inc. has a one year low of $17.65 and a one year high of $27.66. The stock has a market capitalization of $19.15 billion, a P/E ratio of 50.24 and a beta of 0.77. The stock's 50-day simple moving average is $27.42 and its 200 day simple moving average is $26.69.

Endeavor Group (NYSE:EDR - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.87 billion. As a group, analysts forecast that Endeavor Group Holdings, Inc. will post 1.4 earnings per share for the current fiscal year.

Endeavor Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, September 16th. Endeavor Group's dividend payout ratio (DPR) is presently 43.64%.

Insider Activity

In other news, CFO Jason Lublin sold 20,832 shares of Endeavor Group stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $27.28, for a total transaction of $568,296.96. Following the transaction, the chief financial officer now owns 130,187 shares in the company, valued at approximately $3,551,501.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 63.90% of the stock is currently owned by company insiders.

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.