Global Controller and CAO of Endeavor Group Holdings, Inc. (NYSE:EDR), William K. Fullerton, has recently sold shares in the company. The transactions, which took place on May 6, 2024, involved the sale of 6,750 shares at a weighted average price of $26.51, resulting in a total value of $178,942.
The shares sold by Fullerton were part of an automatic transaction to cover taxes and fees related to the settlement of certain restricted stock unit awards, as per the terms of those awards. The sales were executed in multiple transactions with prices ranging from $26.5101 to $26.5150.
Following these sales, Fullerton's direct ownership in Class A Common Stock of Endeavor Group Holdings stands at 46,600 shares. It should be noted that this reflects a transfer of 41,197 shares which was exempt from reporting and as such, Fullerton no longer reports beneficial ownership of these securities.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, dated May 7, 2024. The filing also included a footnote indicating that Fullerton is prepared to provide full information regarding the number of shares sold at each separate price within the range upon request.
Endeavor Group Holdings, Inc., with its headquarters in Beverly Hills, California, operates within the amusement and recreation services sector, providing a range of entertainment and media services.
InvestingPro Insights
As investors assess the significance of the recent share sale by Endeavor Group Holdings, Inc.'s (NYSE:EDR) Global Controller and CAO, it's helpful to consider the company's financial health and market performance. According to InvestingPro data, Endeavor's market capitalization stands at a robust $12.37 billion USD, reflecting investor confidence in the company. Despite a high adjusted P/E ratio over the last twelve months as of Q4 2023, which came in at 183.55, the company's PEG ratio during the same period was 0.15, suggesting that the company's earnings growth may justify the higher P/E ratio.
One of the InvestingPro Tips highlights that Endeavor operates with a moderate level of debt, which can be a reassuring signal for investors concerned about financial stability. Moreover, the company has been profitable over the last twelve months, and analysts predict it will remain profitable this year. These insights, coupled with the fact that the company's liquid assets exceed short-term obligations, paint a picture of a financially sound business.
For those looking to delve deeper into Endeavor's stock performance and financial metrics, InvestingPro offers additional tips and real-time metrics. In total, there are 9 InvestingPro Tips available for Endeavor, which can further guide investment decisions. Interested readers can enhance their market analysis by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
Lastly, with the stock trading near its 52-week high and a price percentage of 99.36% of that high, Endeavor's market position appears strong. As the next earnings date approaches on May 9, 2024, investors will be watching closely to see if the company's performance aligns with these positive indicators.
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