Endeavor Group Holdings, Inc. (NYSE:EDR) Sees Significant Decline in Short Interest

Endeavor Group Holdings, Inc. (NYSE:EDR) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 13,540,000 shares, a decline of 5.6% from the October 15th total of 14,340,000 shares. Currently, 6.9% of the shares of the stock are short sold. Based on an average trading volume of 3,090,000 shares, the short-interest ratio is currently 4.4 days.

Endeavor Group Trading Up 0.4 %

NYSE:EDR opened at $29.22 on Wednesday. Endeavor Group has a one year low of $22.64 and a one year high of $29.67. 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 $19.99 billion, a P/E ratio of -14.25 and a beta of 0.77. The firm has a 50-day simple moving average of $28.78 and a 200-day simple moving average of $27.69.

Endeavor Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.82%. Endeavor Group’s dividend payout ratio is currently -11.71%.

Insider Activity

In other news, CEO Ariel Emanuel sold 149,280 shares of Endeavor Group stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $28.10, for a total value of $4,194,768.00. Following the sale, the chief executive officer now directly owns 1,831,247 shares of the company’s stock, valued at approximately $51,458,040.70. The trade was a 7.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 225,272 shares of company stock worth $6,372,925 over the last ninety days. Corporate insiders own 63.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System grew its position in Endeavor Group by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 50,444 shares of the company’s stock worth $1,364,000 after purchasing an additional 898 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Endeavor Group by 2.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,789 shares of the company’s stock valued at $1,165,000 after acquiring an additional 1,066 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Endeavor Group by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,054 shares of the company’s stock valued at $1,245,000 after acquiring an additional 1,346 shares during the last quarter. Mirador Capital Partners LP lifted its stake in shares of Endeavor Group by 6.7% in the 3rd quarter. Mirador Capital Partners LP now owns 26,265 shares of the company’s stock valued at $750,000 after purchasing an additional 1,655 shares during the period. Finally, Comerica Bank lifted its stake in shares of Endeavor Group by 11.7% in the 1st quarter. Comerica Bank now owns 17,529 shares of the company’s stock valued at $451,000 after purchasing an additional 1,832 shares during the period. Hedge funds and other institutional investors own 71.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Endeavor Group in a research note on Friday, November 15th. They issued a “hold” rating for the company. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Endeavor Group presently has an average rating of “Hold” and a consensus target price of $27.86.

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.