Endeavor Group Stock Jumps After The Close: What's Going On?

Endeavor Group Holdings Inc EDR shares are trading higher in Wednesday's after-hours session after the company announced a review of strategic alternatives.

What To Know: Endeavor said it will look into strategic alternatives in an effort to maximize value for shareholders. 

"Given the continued dislocation between Endeavor's public market value and the intrinsic value of Endeavor's underlying assets, we believe an evaluation of strategic alternatives is a prudent approach to ensure we are maximizing value for our shareholders," said Ariel Emanuel, CEO of Endeavor.

Endeavor did not provide a timetable or set a deadline for the completion of the review process. The company did note that it will not consider selling its interest in TKO Group Holdings, Inc. TKO was formed earlier this year to bring together the UFC and WWE in one integrated organization.

EDR Price Action: Endeavor shares were up 12.1% after hours at $19.85 at the time of publication, according to Benzinga Pro.