Ari Emanuel, the high-powered agent to the stars, announced that Endeavor Group Holdings is considering selling some assets.

According to Endeavor’s statement on Wednesday, it will undergo a “formal evaluation of strategic alternatives for the company.”

“Given the continued disconnect between Endeavor’s public market value and the intrinsic value of Endeavor’s underlying assets, we believe evaluating strategic alternatives is a prudent approach to ensure we are maximizing value for our shareholders,” said Endeavor’s CEO, Ariel Emanuel.

In the past six months, the stock of the sports and entertainment company has dropped more than 30%. Nevertheless, Endeavor shares rose more than 11% after-hours Wednesday.

WME represents mega-stars like Matt Damon and Dwayne “The Rock” Johnson. Endeavor owns IMG, Frieze, and WME, a global sports agency.

Endeavor specifically stated that it would not consider selling or disposing of its stake in TKO Group Holdings as part of the review. Earlier this year, Endeavor, which owns mixed martial arts company UFC, merged with World Wrestling Entertainment to form TKO Holdings. TKO is majority owned by Endeavor, and Emanuel serves as its CEO.

TKO Holdings, which is a separate publicly traded company from Endeavor, gained nearly 2% in after-hours trading Wednesday.