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

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

Endeavor Group Trading Down 0.1 %

NYSE EDR opened at $28.95 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.26. Endeavor Group has a 52 week low of $22.64 and a 52 week high of $29.67. The business has a 50 day moving average price of $28.57 and a 200-day moving average price of $27.56. The company has a market cap of $19.81 billion, a price-to-earnings ratio of -20.10 and a beta of 0.77.

Endeavor Group (NYSE:EDR) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). Endeavor Group had a negative net margin of 6.23% and a positive return on equity of 4.45%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.87 billion. As a group, equities analysts expect that Endeavor Group will post 1.98 earnings per share for the current fiscal year.

Endeavor Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.06 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.83%. Endeavor Group’s dividend payout ratio is presently -16.67%.

Insider Buying and Selling at Endeavor Group

In other news, CEO Ariel Emanuel sold 48,176 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $29.04, for a total value of $1,399,031.04. Following the completion of the sale, the chief executive officer now directly owns 1,831,247 shares of the company’s stock, valued at $53,179,412.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 225,272 shares of company stock worth $6,372,925. Insiders own 63.90% of the company’s stock.

Institutional Trading of Endeavor Group

Institutional investors have recently made changes to their positions in the company. Pentwater Capital Management LP grew its holdings in shares of Endeavor Group by 457.0% in the second quarter. Pentwater Capital Management LP now owns 13,200,000 shares of the company’s stock valued at $356,796,000 after acquiring an additional 10,830,000 shares in the last quarter. Davidson Kempner Capital Management LP purchased a new position in Endeavor Group in the second quarter worth $205,038,000. Glazer Capital LLC bought a new position in Endeavor Group in the 2nd quarter valued at $49,017,000. LMR Partners LLP increased its position in shares of 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 purchasing an additional 1,290,867 shares during the last quarter. Finally, Water Island Capital LLC bought a new stake in shares of Endeavor Group during the 2nd quarter worth $28,497,000. Institutional investors own 71.37% of the company’s stock.

Endeavor Group Company Profile

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.