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

StockNews.com lowered shares of Endeavor Group (NYSE:EDR) from a hold rating to a sell rating in a research note released on Saturday morning.

Endeavor Group Trading Down 0.2 %

Shares of EDR stock opened at $31.15 on Friday. The stock has a market capitalization of $21.31 billion, a P/E ratio of -15.20 and a beta of 0.74. Endeavor Group has a 12-month low of $22.77 and a 12-month high of $31.49. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $30.19 and its 200 day moving average is $28.65.

Endeavor Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.77%. Endeavor Group’s dividend payout ratio is currently -11.71%.

Insider Transactions at Endeavor Group

In other Endeavor Group news, CAO William K. Fullerton sold 6,875 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $31.17, for a total transaction of $214,293.75. Following the sale, the chief accounting officer now owns 53,255 shares in the company, valued at approximately $1,659,958.35. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Patrick Whitesell purchased 60,208 shares of the stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $143.73 per share, for a total transaction of $8,653,695.84. Following the acquisition, the insider now directly owns 1,734,530 shares of the company’s stock, valued at approximately $249,303,996.90. This represents a 3.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 63.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Longfellow Investment Management Co. LLC bought a new stake in Endeavor Group during the second quarter valued at about $75,000. FMR LLC lifted its holdings in Endeavor Group by 67.6% in the 3rd quarter. FMR LLC now owns 5,575 shares of the company’s stock worth $159,000 after purchasing an additional 2,248 shares in the last quarter. CIBC Asset Management Inc bought a new stake in Endeavor Group in the 2nd quarter valued at $226,000. Everence Capital Management Inc. bought a new position in Endeavor Group during the fourth quarter valued at approximately $233,000. Finally, Tidal Investments LLC grew its holdings in shares of Endeavor Group by 7.9% in the third quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock valued at $243,000 after purchasing an additional 620 shares in the last quarter. Hedge funds and other institutional investors 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.