Endeavor Group (NYSE:EDR) Sees Large Volume Increase – Time to Buy?

Endeavor Group Holdings, Inc. (NYSE:EDR) saw strong trading volume on Thursday . 988,937 shares changed hands during mid-day trading, an increase of 32% from the previous session’s volume of 747,712 shares.The stock last traded at $30.35 and had previously closed at $30.32.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Endeavor Group from a “sell” rating to a “hold” rating in a report on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.86.

Endeavor Group Trading Up 1.8 %

The stock has a market cap of $21.24 billion, a PE ratio of -15.14 and a beta of 0.74. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $30.43 and a two-hundred day simple moving average of $28.85.

Endeavor Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were issued a $0.06 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. Endeavor Group’s dividend payout ratio is currently -11.71%.

Insider Activity at Endeavor Group

In related news, major shareholder Patrick Whitesell bought 263,200 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $146.97 per share, with a total value of $38,682,504.00. Following the completion of the purchase, the insider now owns 418,587 shares in the company, valued at approximately $61,519,731.39. The trade was a 169.38 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO William K. Fullerton sold 6,875 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.17, for a total transaction of $214,293.75. Following the sale, the chief accounting officer now owns 53,255 shares in the company, valued at approximately $1,659,958.35. The trade was a 11.43 % decrease in their position. The disclosure for this sale can be found here. 63.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new stake in Endeavor Group in the 4th quarter worth $96,000. FMR LLC boosted its holdings in shares of Endeavor Group by 67.6% during the 3rd quarter. FMR LLC now owns 5,575 shares of the company’s stock valued at $159,000 after purchasing an additional 2,248 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Endeavor Group in the 4th quarter worth approximately $233,000. Tidal Investments LLC raised its stake in Endeavor Group by 7.9% during the third quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock valued at $243,000 after purchasing an additional 620 shares in the last quarter. Finally, ProShare Advisors LLC bought a new position in shares of Endeavor Group in the 2nd quarter valued at about $255,000. Institutional investors own 74.99% of the company’s stock.

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.