Endeavor Group (NYSE:EDR) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Endeavor Group (NYSE:EDR) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

Endeavor Group Price Performance

Shares of EDR opened at $34.78 on Monday. The firm has a market cap of $23.80 billion, a price-to-earnings ratio of -16.97 and a beta of 0.74. The stock has a 50 day moving average of $31.09 and a 200-day moving average of $29.39. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28. Endeavor Group has a 52 week low of $23.14 and a 52 week high of $34.89.

Endeavor Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a $0.06 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.69%. Endeavor Group’s payout ratio is -11.71%.

Insider Transactions at Endeavor Group

In related news, CAO William K. Fullerton sold 2,225 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $30.58, for a total transaction of $68,040.50. Following the completion of the transaction, the chief accounting officer now owns 53,124 shares in the company, valued at $1,624,531.92. The trade was a 4.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Patrick Whitesell acquired 60,208 shares of Endeavor Group stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $143.73 per share, with a total value of $8,653,695.84. Following the transaction, the insider now directly owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. This trade represents a 3.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 1,535,485 shares of company stock worth $239,160,243. 63.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EDR. Athos Capital Ltd raised its stake in Endeavor Group by 135.9% during the 3rd quarter. Athos Capital Ltd now owns 7,719,200 shares of the company’s stock valued at $220,460,000 after acquiring an additional 4,447,000 shares in the last quarter. Polar Asset Management Partners Inc. raised its stake in Endeavor Group by 300.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company’s stock valued at $57,120,000 after acquiring an additional 1,500,000 shares in the last quarter. LMR Partners LLP raised its stake in Endeavor Group by 41.6% during the 3rd quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock valued at $125,486,000 after acquiring an additional 1,290,867 shares in the last quarter. Vanguard Group Inc. raised its stake in Endeavor Group by 8.3% during the 4th quarter. Vanguard Group Inc. now owns 15,185,871 shares of the company’s stock valued at $475,166,000 after acquiring an additional 1,167,887 shares in the last quarter. Finally, Whitefort Capital Management LP bought a new stake in Endeavor Group during the 3rd quarter valued at $28,560,000. Institutional investors and hedge funds own 74.99% 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.