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

StockNews.com assumed coverage on shares of Endeavor Group (NYSE:EDR) in a research report released on Thursday morning. The firm issued a hold rating on the stock.

A number of other research analysts have also commented on EDR. Piper Sandler lowered 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 decreased their target price for the company from $29.00 to $27.50 in a report on Monday, April 15th. JPMorgan Chase & Co. reiterated a neutral rating and issued a $27.50 price target (down previously from $30.00) on shares of Endeavor Group in a report on Friday, April 5th. Seaport Res Ptn lowered shares of Endeavor Group from a buy rating to a neutral rating in a report on Tuesday, April 2nd. Finally, Evercore ISI reaffirmed an in-line rating and set a $27.50 target price (down previously from $28.00) on shares of Endeavor Group in a research note on Wednesday, April 3rd. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $28.89.

Endeavor Group Stock Up 0.2 %

Shares of NYSE EDR opened at $26.77 on Thursday. The firm’s fifty day moving average is $26.24 and its 200 day moving average is $24.91. Endeavor Group has a 52 week low of $17.65 and a 52 week high of $27.01. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.44. The company has a market cap of $18.55 billion, a price-to-earnings ratio of 48.67, a PEG ratio of 1.95 and a beta of 0.79.

Endeavor Group (NYSE:EDR) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.55 billion. Endeavor Group had a net margin of 3.40% and a return on equity of 2.86%. On average, equities research analysts expect that Endeavor Group will post 1.27 earnings per share for the current year.

Endeavor Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.90%. Endeavor Group’s payout ratio is 43.64%.

Insider Buying and Selling

In other Endeavor Group news, CAO William K. Fullerton sold 6,750 shares of Endeavor Group stock in a transaction on Monday, May 6th. The stock was sold at an average price of $26.51, for a total transaction of $178,942.50. Following the completion of the transaction, the chief accounting officer now owns 46,600 shares in the company, valued at $1,235,366. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Jason Lublin sold 20,832 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.71, for a total value of $514,758.72. Following the transaction, the chief financial officer now owns 130,187 shares in the company, valued at $3,216,920.77. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO William K. Fullerton sold 6,750 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $26.51, for a total transaction of $178,942.50. Following the sale, the chief accounting officer now directly owns 46,600 shares of the company’s stock, valued at approximately $1,235,366. The disclosure for this sale can be found here. Insiders have sold 69,246 shares of company stock worth $1,798,422 in the last 90 days. Insiders own 82.08% of the company’s stock.

Hedge Funds Weigh In On Endeavor Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC lifted its holdings in shares of Endeavor Group by 200.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,540 shares of the company’s stock valued at $37,000 after purchasing an additional 1,027 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Endeavor Group by 14.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,200 shares of the company’s stock valued at $76,000 after acquiring an additional 399 shares during the period. Quest Partners LLC purchased a new stake in shares of Endeavor Group during the 4th quarter valued at about $177,000. Algert Global LLC purchased a new stake in shares of Endeavor Group during the 3rd quarter valued at about $246,000. Finally, Qsemble Capital Management LP bought a new stake in shares of Endeavor Group in the fourth quarter worth approximately $267,000. 71.37% of the stock is owned by institutional investors.

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.