Glazer Capital LLC Makes New Investment in Endeavor Group Holdings, Inc. (NYSE:EDR)

Glazer Capital LLC acquired a new position in Endeavor Group Holdings, Inc. (NYSE:EDR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,813,437 shares of the company's stock, valued at approximately $49,017,000. Endeavor Group comprises about 3.8% of Glazer Capital LLC's holdings, making the stock its 7th biggest holding. Glazer Capital LLC owned 0.26% of Endeavor Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sagefield Capital LP purchased a new position in shares of Endeavor Group in the second quarter worth approximately $2,163,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Endeavor Group in the second quarter worth $205,038,000. P Schoenfeld Asset Management LP bought a new stake in shares of Endeavor Group during the 2nd quarter valued at $8,109,000. Gabelli Funds LLC lifted its stake in shares of Endeavor Group by 920.0% during the 2nd quarter. Gabelli Funds LLC now owns 733,384 shares of the company's stock valued at $19,823,000 after buying an additional 661,485 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in Endeavor Group in the 2nd quarter worth $255,000. Hedge funds and other institutional investors own 71.37% of the company's stock.

Endeavor Group Price Performance

Shares of Endeavor Group stock traded up $0.34 during trading on Tuesday, reaching $28.25. 3,376,071 shares of the stock traded hands, compared to its average volume of 3,730,939. The company has a market capitalization of $19.57 billion, a price-to-earnings ratio of 51.36 and a beta of 0.77. The business has a fifty day simple moving average of $27.45 and a two-hundred day simple moving average of $26.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.62 and a quick ratio of 0.62. Endeavor Group Holdings, Inc. has a 52-week low of $17.65 and a 52-week high of $28.28.

Endeavor Group (NYSE:EDR - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.06). The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.87 billion. Endeavor Group had a negative net margin of 6.23% and a positive return on equity of 4.45%. Sell-side analysts expect that Endeavor Group Holdings, Inc. will post 1.4 EPS for the current year.

Endeavor Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, September 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.85%. Endeavor Group's payout ratio is 43.64%.

Insider Activity

In related news, CFO Jason Lublin sold 20,832 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $27.28, for a total value of $568,296.96. Following the completion of the transaction, the chief financial officer now owns 130,187 shares of the company's stock, valued at approximately $3,551,501.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 63.90% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Endeavor Group in a research note on Friday. 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.86.

Endeavor Group 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.