The Manufacturers Life Insurance Company Lowers Position in Endeavor Group Holdings, Inc. (NYSE:EDR)

The Manufacturers Life Insurance Company reduced its position in shares of Endeavor Group Holdings, Inc. (NYSE:EDR - Free Report) by 68.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,757 shares of the company's stock after selling 31,297 shares during the period. The Manufacturers Life Insurance Company's holdings in Endeavor Group were worth $421,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Longfellow Investment Management Co. LLC bought a new stake in shares of Endeavor Group during the 2nd quarter valued at approximately $75,000. SG Americas Securities LLC bought a new stake in shares of Endeavor Group during the second quarter worth $130,000. CIBC Asset Management Inc acquired a new position in shares of Endeavor Group during the second quarter worth $226,000. ProShare Advisors LLC bought a new position in shares of Endeavor Group in the 2nd quarter valued at $255,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Endeavor Group during the 2nd quarter valued at $316,000. 74.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, major shareholder Patrick Whitesell acquired 60,208 shares of Endeavor Group stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $143.73 per share, with a total value of $8,653,695.84. Following the transaction, the insider now directly owns 1,734,530 shares in the company, valued at $249,303,996.90. This represents a 3.60 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ariel Emanuel sold 149,280 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $28.10, for a total transaction of $4,194,768.00. Following the transaction, the chief executive officer now owns 1,831,247 shares in the company, valued at $51,458,040.70. The trade was a 7.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,272 shares of company stock valued at $6,372,925. 63.90% of the stock is currently owned by insiders.

Endeavor Group Trading Up 1.0 %

Shares of EDR stock traded up $0.30 on Monday, hitting $31.05. The company had a trading volume of 1,294,455 shares, compared to its average volume of 3,338,673. The stock's 50-day moving average is $29.56 and its two-hundred day moving average is $28.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $21.24 billion, a P/E ratio of -15.00 and a beta of 0.76. Endeavor Group Holdings, Inc. has a twelve month low of $22.75 and a twelve month high of $31.07.

Endeavor Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.77%. Endeavor Group's dividend payout ratio (DPR) is currently -11.71%.

Wall Street Analyst Weigh In

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