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Endeavor Group Holdings, Inc. (NYSE:EDR) Chief Financial Officer Jason Lublin has completed a series of transactions involving the company’s stock, according to a recent SEC filing. Lublin sold a total of 20,832 shares of Class A common stock for an average price of $24.71, netting approximately $514,777 in the process.
The transactions took place on March 12, 2024, and were part of a prearranged trading plan under Rule 10b5-1, which allows company insiders to set up a trading plan for selling stocks they own. This plan was adopted on May 17, 2023. The sold shares were sold at prices ranging from $24.51 to $24.81, indicating a well-timed execution of the trading plan.
In addition to the sale, Lublin also engaged in transactions involving derivative securities. Specifically, Lublin exchanged units of Endeavor Executive Holdco, LLC for an equivalent number of limited liability company units of Endeavor Operating Company, LLC (OpCo Units) and paired shares of Class X Common Stock of Endeavor Group Holdings. These transactions resulted in the cancellation of an equal number of shares of Class X Common Stock for no consideration, as the OpCo Units were exchanged.
The form 4 filing detailed that each unit exchanged is on a 1-for-1 basis for OpCo Units and an equal number of paired shares of Class X Common Stock of the issuer. Furthermore, the OpCo Units are exchangeable by the holder on a 1-for-1 basis for shares of Class A Common Stock or, subject to certain conditions, an equivalent amount of cash. Upon exchange, an equal number of shares of Class X Common Stock will automatically be canceled.
The reported transactions reflect the dynamic nature of executive stock ownership and the mechanisms in place for company insiders to manage their investment in the company. For investors, such filings offer a glimpse into the actions of company executives with respect to their holdings and can be a component of the broader picture when evaluating a company’s stock performance and insider confidence.
InvestingPro Insights
Endeavor Group Holdings (NYSE:EDR) has been navigating the market with a notable combination of financial metrics and insider movements. As of the last twelve months ending in Q4 2023, Endeavor holds a market capitalization of $11.72 billion. The company’s P/E ratio stands at 21.02, suggesting a valuation that investors might find attractive when aligned with its near-term earnings growth.
With a solid revenue growth of 13.14% over the last twelve months, Endeavor has demonstrated its capacity to expand its financial top line. This growth is further emphasized by a substantial quarterly increase of 25.57% in Q4 2023. The company’s gross profit margin at 59.03% underscores its ability to maintain profitability amidst its expansion endeavors.
InvestingPro Tips indicate that Endeavor operates with a moderate level of debt and that its liquid assets exceed short-term obligations, which may provide investors with confidence in the company’s financial stability. Moreover, analysts predict the company will be profitable this year, a sentiment supported by the fact that the company has been profitable over the last twelve months. For those looking to delve deeper into Endeavor’s financials and future prospects, InvestingPro offers additional tips that could guide investment decisions. There are 7 more InvestingPro Tips available, which can be accessed by visiting InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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