Short Interest in Endeavor Group Holdings, Inc. (NYSE:EDR) Declines By 5.6%

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

Insiders Place Their Bets

In related news, CEO Ariel Emanuel sold 149,280 shares of Endeavor Group 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 sale, the chief executive officer now directly owns 1,831,247 shares in the company, valued at $51,458,040.70. This trade represents a 7.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 owned by corporate insiders.

Institutional Trading of Endeavor Group

A number of hedge funds have recently added to or reduced their stakes in EDR. Geode Capital Management LLC raised its stake in shares of Endeavor Group by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,077,887 shares of the company’s stock worth $59,367,000 after purchasing an additional 79,212 shares during the last quarter. Barclays PLC raised its position in Endeavor Group by 5,247.7% during the 3rd quarter. Barclays PLC now owns 318,188 shares of the company’s stock worth $9,087,000 after buying an additional 312,238 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Endeavor Group by 142.3% in the 3rd quarter. XTX Topco Ltd now owns 90,867 shares of the company’s stock worth $2,595,000 after acquiring an additional 53,370 shares during the period. Whitefort Capital Management LP purchased a new stake in shares of Endeavor Group in the third quarter valued at about $28,560,000. Finally, Polar Asset Management Partners Inc. increased its stake in shares of Endeavor Group by 300.0% during the third quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company’s stock worth $57,120,000 after acquiring an additional 1,500,000 shares during the period. 71.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Endeavor Group in a research report on Friday. They set a “hold” rating on the stock. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.86.

Endeavor Group Trading Up 0.4 %

NYSE EDR opened at $29.10 on Tuesday. Endeavor Group has a one year low of $22.64 and a one year high of $29.67. The firm has a market cap of $19.91 billion, a PE ratio of -14.20 and a beta of 0.77. The firm’s fifty day moving average is $28.75 and its two-hundred day moving average is $27.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.62 and a current ratio of 0.63.

Endeavor Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Monday, September 16th. Endeavor Group’s dividend payout ratio is presently -11.71%.

Endeavor Group Company 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.