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

Water Island Capital LLC bought a new stake in shares of Endeavor Group Holdings, Inc. (NYSE:EDR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,054,268 shares of the company's stock, valued at approximately $28,497,000. Endeavor Group accounts for 3.0% of Water Island Capital LLC's portfolio, making the stock its 17th biggest holding. Water Island Capital LLC owned 0.15% of Endeavor Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of EDR. Longfellow Investment Management Co. LLC purchased a new position in shares of Endeavor Group in the second quarter worth $75,000. PNC Financial Services Group Inc. lifted its position in shares of Endeavor Group by 14.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,200 shares of the company's stock worth $76,000 after purchasing an additional 399 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Endeavor Group during the 1st quarter valued at about $102,000. SG Americas Securities LLC purchased a new position in shares of Endeavor Group during the second quarter valued at about $130,000. Finally, CIBC Asset Management Inc bought a new position in Endeavor Group in the second quarter worth about $226,000. 71.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Endeavor Group in a research note on Saturday. They issued a "hold" rating on the stock. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.86.

Endeavor Group Stock Up 0.0 %

EDR stock traded up $0.01 during trading on Monday, hitting $28.56. 2,419,611 shares of the stock traded hands, compared to its average volume of 3,731,050. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 51.95 and a beta of 0.77. 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 1 year low of $17.65 and a 1 year high of $28.62. The firm's 50 day moving average is $27.54 and its two-hundred day moving average is $26.89.

Endeavor Group (NYSE:EDR - Get Free Report) last announced its quarterly 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 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. On average, sell-side analysts anticipate that Endeavor Group Holdings, Inc. will post 1.4 EPS for the current year.

Endeavor Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Monday, September 16th. Endeavor Group's payout ratio is currently 43.64%.

Insiders Place Their Bets

In other news, CFO Jason Lublin sold 20,832 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $27.28, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ariel Emanuel sold 27,816 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.01, for a total value of $779,126.16. Following the completion of the sale, the chief executive officer now directly owns 1,831,247 shares of the company's stock, valued at $51,293,228.47. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jason Lublin sold 20,832 shares of the company's stock in a transaction on Monday, July 29th. The stock was sold at an average price of $27.28, for a total transaction of $568,296.96. Following the completion of the transaction, the chief financial officer now directly owns 130,187 shares of the company's stock, valued at approximately $3,551,501.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,928 shares of company stock valued at $5,542,191. Insiders own 63.90% of the company's stock.

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.