942,000 Shares in Endeavor Group Holdings, Inc. (NYSE:EDR) Bought by Alpine Associates Management Inc.

Alpine Associates Management Inc. acquired a new position in shares of Endeavor Group Holdings, Inc. (NYSE:EDR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 942,000 shares of the company’s stock, valued at approximately $25,462,000. Endeavor Group accounts for 1.2% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 24th biggest holding.

Other large investors have also recently bought and sold shares of the company. Swiss National Bank boosted its stake in Endeavor Group by 8.1% in the first quarter. Swiss National Bank now owns 356,000 shares of the company’s stock valued at $9,160,000 after buying an additional 26,800 shares in the last quarter. Sei Investments Co. bought a new stake in Endeavor Group in the first quarter valued at approximately $644,000. Gabelli Funds LLC increased its position in shares of Endeavor Group by 125.0% during the first quarter. Gabelli Funds LLC now owns 71,899 shares of the company’s stock worth $1,850,000 after buying an additional 39,950 shares during the period. Caxton Associates LP bought a new position in shares of Endeavor Group in the 4th quarter worth about $2,373,000. Finally, JBF Capital Inc. bought a new stake in Endeavor Group in the second quarter worth approximately $622,000. 71.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Endeavor Group in a research note on Thursday. They set a “hold” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Endeavor Group presently has an average rating of “Hold” and an average target price of $27.86.

Insider Activity

In related news, CFO Jason Lublin sold 20,832 shares of Endeavor Group stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $27.28, for a total value of $568,296.96. Following the completion of the sale, the chief financial officer now owns 130,187 shares of the company’s stock, valued at approximately $3,551,501.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 63.90% of the company’s stock.

Endeavor Group Price Performance

EDR opened at $27.60 on Monday. Endeavor Group Holdings, Inc. has a fifty-two week low of $17.65 and a fifty-two week high of $27.65. The firm has a 50-day moving average of $27.41 and a 200 day moving average of $26.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $19.12 billion, a P/E ratio of 50.18 and a beta of 0.77.

Endeavor Group (NYSE:EDR) last released its earnings results on Thursday, August 8th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.87 billion. Endeavor Group had a negative net margin of 6.23% and a positive return on equity of 4.45%. On average, research analysts expect that Endeavor Group Holdings, Inc. will post 1.4 EPS for the current year.

Endeavor Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.06 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.87%. Endeavor Group’s payout ratio is presently 43.64%.

Endeavor Group 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.