Alpine Associates Management Inc. Buys Shares of 942,000 Endeavor Group Holdings, Inc. (NYSE:EDR)

Alpine Associates Management Inc. purchased a new position in shares of Endeavor Group Holdings, Inc. (NYSE:EDR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 942,000 shares of the company’s stock, valued at approximately $25,462,000. Endeavor Group makes up 1.2% of Alpine Associates Management Inc.’s portfolio, making the stock its 24th biggest position. Alpine Associates Management Inc. owned approximately 0.14% of Endeavor Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EDR. Longfellow Investment Management Co. LLC acquired a new stake in Endeavor Group in the 2nd quarter valued at $75,000. PNC Financial Services Group Inc. boosted its position in Endeavor Group by 14.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,200 shares of the company’s stock valued at $76,000 after purchasing an additional 399 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Endeavor Group in the first quarter valued at approximately $102,000. SG Americas Securities LLC acquired a new position in shares of Endeavor Group during the 2nd quarter worth approximately $130,000. Finally, Quest Partners LLC bought a new stake in shares of Endeavor Group during the 4th quarter worth approximately $177,000. 71.37% of the stock is currently owned by institutional investors and hedge funds.

Endeavor Group Stock Performance

NYSE EDR opened at $27.60 on Monday. The stock has a market cap of $19.12 billion, a PE ratio of 50.18 and a beta of 0.77. 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 50-day moving average of $27.41 and a 200-day moving average of $26.65. Endeavor Group Holdings, Inc. has a 52-week low of $17.65 and a 52-week high of $27.65.

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

Endeavor Group Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Activity at Endeavor Group

In other Endeavor Group news, CFO Jason Lublin sold 20,832 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 63.90% of the stock is currently owned by corporate insiders.

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.