Xn LP Sells 3,502,642 Shares of Endeavor Group Holdings, Inc. (NYSE:EDR)

Xn LP cut its holdings in Endeavor Group Holdings, Inc. (NYSE:EDR) by 72.0% during the second quarter, HoldingsChannel reports. The firm owned 1,363,415 shares of the company’s stock after selling 3,502,642 shares during the period. Endeavor Group comprises 1.5% of Xn LP’s investment portfolio, making the stock its 20th biggest position. Xn LP’s holdings in Endeavor Group were worth $36,853,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in Endeavor Group by 14.2% in the 4th 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 period. Arizona State Retirement System lifted its stake in shares of Endeavor Group by 1.8% in the second quarter. Arizona State Retirement System now owns 50,444 shares of the company’s stock valued at $1,364,000 after buying an additional 898 shares during the period. Comerica Bank lifted its stake in shares of Endeavor Group by 11.7% in the first quarter. Comerica Bank now owns 17,529 shares of the company’s stock valued at $451,000 after buying an additional 1,832 shares during the period. Mirador Capital Partners LP grew its position in Endeavor Group by 9.6% during the first quarter. Mirador Capital Partners LP now owns 22,125 shares of the company’s stock worth $569,000 after buying an additional 1,941 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC bought a new position in Endeavor Group during the second quarter valued at about $75,000. Institutional investors and hedge funds own 71.37% of the company’s stock.

Insider Activity

In related news, CFO Jason Lublin sold 20,832 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $27.28, for a total transaction of $568,296.96. Following the completion of the sale, the chief financial officer now owns 130,187 shares in the company, valued at approximately $3,551,501.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 63.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Endeavor Group in a research report on Thursday, September 12th. They issued a “hold” rating for the company. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Endeavor Group currently has a consensus rating of “Hold” and a consensus price target of $27.86.

Endeavor Group Stock Up 0.0 %

Shares of EDR opened at $27.59 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $27.42 and a two-hundred day moving average price of $26.69. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 50.15 and a beta of 0.77. Endeavor Group Holdings, Inc. has a 12 month low of $17.65 and a 12 month high of $27.65.

Endeavor Group (NYSE:EDR) last issued its earnings results on Thursday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The company had revenue of $1.75 billion during 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%. Equities analysts predict that Endeavor Group Holdings, Inc. will post 1.4 EPS for the current fiscal year.

Endeavor Group Announces Dividend

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

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.