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

Endeavor Group Holdings, Inc. (NYSE:EDR) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 5,510,000 shares, a decline of 9.7% from the March 31st total of 6,100,000 shares. Based on an average trading volume of 4,610,000 shares, the days-to-cover ratio is currently 1.2 days. Approximately 2.9% of the company’s shares are sold short.

Endeavor Group Trading Down 0.2 %

Shares of NYSE EDR opened at $26.41 on Wednesday. The stock’s 50 day moving average price is $25.45 and its two-hundred day moving average price is $24.21. Endeavor Group has a 52-week low of $17.65 and a 52-week high of $26.63. The stock has a market capitalization of $18.29 billion, a P/E ratio of 25.39, a PEG ratio of 1.92 and a beta of 0.82. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.43.

Endeavor Group (NYSE:EDR) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. Endeavor Group had a return on equity of 1.05% and a net margin of 5.98%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.55 billion. On average, analysts anticipate that Endeavor Group will post 1.27 earnings per share for the current fiscal year.

Endeavor Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.24 annualized dividend and a yield of 0.91%. Endeavor Group’s dividend payout ratio (DPR) is currently 23.08%.

Insiders Place Their Bets

In other Endeavor Group news, CAO Seth D. Krauss sold 17,950 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $24.08, for a total transaction of $432,236.00. Following the sale, the chief accounting officer now directly owns 62,055 shares of the company’s stock, valued at $1,494,284.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Endeavor Group news, CAO Seth D. Krauss sold 17,950 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $24.08, for a total transaction of $432,236.00. Following the sale, the chief accounting officer now directly owns 62,055 shares of the company’s stock, valued at $1,494,284.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jason Lublin sold 46,419 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $24.08, for a total value of $1,117,769.52. Following the transaction, the chief financial officer now owns 112,457 shares of the company’s stock, valued at approximately $2,707,964.56. The disclosure for this sale can be found here. Insiders have sold 176,633 shares of company stock valued at $4,317,277 over the last ninety days. 82.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Endeavor Group

Several hedge funds and other institutional investors have recently made changes to their positions in EDR. Mubadala Investment Co PJSC bought a new position in shares of Endeavor Group in the fourth quarter valued at approximately $52,983,000. Kodai Capital Management LP acquired a new position in Endeavor Group in the fourth quarter valued at $24,037,000. National Bank of Canada FI bought a new stake in Endeavor Group in the fourth quarter valued at $23,345,000. Owl Creek Asset Management L.P. bought a new stake in Endeavor Group in the fourth quarter valued at $22,419,000. Finally, NewEdge Wealth LLC bought a new stake in shares of Endeavor Group during the third quarter worth about $13,885,000. 71.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EDR has been the topic of several analyst reports. Guggenheim reaffirmed a “neutral” rating and set a $27.50 price target (down from $36.00) on shares of Endeavor Group in a research report on Wednesday, April 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $27.50 target price (down from $29.00) on shares of Endeavor Group in a research note on Thursday, April 4th. Seaport Res Ptn downgraded Endeavor Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 2nd. UBS Group reiterated a “neutral” rating and set a $27.50 price target (down from $31.00) on shares of Endeavor Group in a report on Wednesday, April 3rd. Finally, TD Cowen increased their price target on Endeavor Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, March 25th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Endeavor Group has a consensus rating of “Hold” and an average target price of $29.30.

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.