State Street Corp Trims Holdings in Endeavor Group Holdings, Inc. (NYSE:EDR)

State Street Corp lessened its stake in shares of Endeavor Group Holdings, Inc. (NYSE:EDR - Free Report) by 2.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,151,706 shares of the company's stock after selling 33,655 shares during the quarter. State Street Corp owned about 0.17% of Endeavor Group worth $32,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Pentwater Capital Management LP raised its position in shares of Endeavor Group by 457.0% in the 2nd quarter. Pentwater Capital Management LP now owns 13,200,000 shares of the company's stock worth $356,796,000 after purchasing an additional 10,830,000 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in Endeavor Group during the second quarter valued at $205,038,000. Athos Capital Ltd raised its holdings in shares of Endeavor Group by 135.9% during the 3rd quarter. Athos Capital Ltd now owns 7,719,200 shares of the company's stock worth $220,460,000 after acquiring an additional 4,447,000 shares in the last quarter. Glazer Capital LLC purchased a new position in Endeavor Group in the second quarter worth about $49,017,000. Finally, Polar Asset Management Partners Inc. increased its position in Endeavor Group by 300.0% during the third quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company's stock valued at $57,120,000 after acquiring an additional 1,500,000 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

Endeavor Group Stock Performance

Endeavor Group stock traded up $0.12 during mid-day trading on Friday, reaching $31.21. 1,767,378 shares of the company traded hands, compared to its average volume of 3,345,065. The firm's fifty day moving average is $29.74 and its two-hundred day moving average is $28.29. Endeavor Group Holdings, Inc. has a fifty-two week low of $22.75 and a fifty-two week high of $31.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63. The company has a market capitalization of $21.35 billion, a price-to-earnings ratio of -15.22 and a beta of 0.76.

Endeavor Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders 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 yield of 0.77%. The ex-dividend date of this dividend is Monday, December 16th. Endeavor Group's dividend payout ratio is presently -11.71%.

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.