StockNews.com Begins Coverage on Endeavor Group (NYSE:EDR)

StockNews.com started coverage on shares of Endeavor Group (NYSE:EDR) in a report published on Saturday. The firm issued a hold rating on the stock.

Several other research analysts also recently issued reports on the stock. Piper Sandler downgraded shares of Endeavor Group from a strong-buy rating to a hold rating in a research report on Monday, May 13th. Citigroup downgraded Endeavor Group from a buy rating to a neutral rating and reduced their price objective for the company from $29.00 to $27.50 in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. reiterated a neutral rating and issued a $27.50 target price (down from $30.00) on shares of Endeavor Group in a research note on Friday, April 5th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Endeavor Group presently has a consensus rating of Hold and an average target price of $28.75.

Endeavor Group Stock Performance

Shares of EDR stock opened at $27.14 on Friday. The stock’s 50-day moving average is $27.07 and its two-hundred day moving average is $26.04. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.16. Endeavor Group has a 1 year low of $17.65 and a 1 year high of $27.62. The firm has a market cap of $18.80 billion, a price-to-earnings ratio of 49.34 and a beta of 0.78.

Endeavor Group (NYSE:EDR) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.50. Endeavor Group had a return on equity of 2.86% and a net margin of 3.40%. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.93 billion. Analysts predict that Endeavor Group will post 1.4 earnings per share for the current year.

Endeavor Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.88%. Endeavor Group’s payout ratio is currently 43.64%.

Insider Transactions at Endeavor Group

In related news, CFO Jason Lublin sold 20,832 shares of the business’s 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 sale, the chief financial officer now owns 130,187 shares of the company’s stock, valued at $3,551,501.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 62,496 shares of company stock valued at $1,680,309 in the last ninety days. 63.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EDR. Raymond James & Associates lifted its holdings in shares of Endeavor Group by 9.2% in the fourth quarter. Raymond James & Associates now owns 106,552 shares of the company’s stock valued at $2,528,000 after purchasing an additional 8,951 shares in the last quarter. Cerity Partners LLC grew its holdings in Endeavor Group by 5.2% during the 4th quarter. Cerity Partners LLC now owns 11,832 shares of the company’s stock valued at $281,000 after buying an additional 590 shares during the last quarter. NewEdge Wealth LLC raised its holdings in shares of Endeavor Group by 7.9% in the fourth quarter. NewEdge Wealth LLC now owns 752,508 shares of the company’s stock worth $17,857,000 after acquiring an additional 54,780 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Endeavor Group by 200.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,540 shares of the company’s stock valued at $37,000 after acquiring an additional 1,027 shares in the last quarter. Finally, Natixis Advisors L.P. increased its position in Endeavor Group by 16.8% during the 4th quarter. Natixis Advisors L.P. now owns 837,210 shares of the company’s stock worth $19,866,000 after purchasing an additional 120,258 shares in the last quarter. Institutional investors and hedge funds own 71.37% of the company’s stock.

About Endeavor Group

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.