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

Endeavor Group Holdings, Inc. (NYSE:EDR) saw 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. Based on an average daily volume of 3,090,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 6.9% of the shares of the stock are sold short.

Insiders Place Their Bets

In related 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 completion of the transaction, the chief executive officer now directly owns 1,831,247 shares of the company’s stock, valued at $51,458,040.70. The trade was a 7.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 225,272 shares of company stock valued at $6,372,925. 63.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Endeavor Group

A number of institutional investors have recently bought and sold shares of EDR. Longfellow Investment Management Co. LLC bought a new position in shares of Endeavor Group in the 2nd quarter worth $75,000. DekaBank Deutsche Girozentrale acquired a new position in Endeavor Group in the first quarter valued at about $102,000. SG Americas Securities LLC bought a new position in Endeavor Group during the second quarter worth about $130,000. FMR LLC boosted its holdings in Endeavor Group by 67.6% during the third quarter. FMR LLC now owns 5,575 shares of the company’s stock worth $159,000 after buying an additional 2,248 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Endeavor Group in the 2nd quarter valued at about $226,000. Institutional investors and hedge funds own 71.37% of the company’s stock.

Endeavor Group Stock Performance

Endeavor Group stock opened at $28.98 on Monday. The company has a market cap of $19.83 billion, a PE ratio of -14.14 and a beta of 0.77. The company has a current ratio of 0.63, a quick ratio of 0.62 and a debt-to-equity ratio of 0.28. Endeavor Group has a 1 year low of $22.64 and a 1 year high of $29.67. The company’s 50-day moving average is $28.72 and its two-hundred day moving average is $27.66.

Endeavor Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.83%. Endeavor Group’s payout ratio is presently -11.71%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Endeavor Group in a research note on Friday. They issued a “hold” rating for the company. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.