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

StockNews.com initiated coverage on shares of Endeavor Group (NYSE:EDR) in a report released on Saturday morning. The brokerage issued a hold rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Jefferies Financial Group reissued a hold rating and issued a $27.50 price objective (down from $29.00) on shares of Endeavor Group in a research report on Thursday, April 4th. UBS Group restated a neutral rating and issued a $27.50 target price (down from $31.00) on shares of Endeavor Group in a research note on Wednesday, April 3rd. TD Cowen lifted their price objective on Endeavor Group from $28.00 to $30.00 and gave the stock an outperform rating in a research report on Monday, March 25th. Guggenheim reiterated a neutral rating and set a $27.50 price objective (down previously from $36.00) on shares of Endeavor Group in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. restated a neutral rating and issued a $27.50 target price (down previously from $30.00) on shares of Endeavor Group in a research note on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $29.64.

Endeavor Group Price Performance

Shares of EDR opened at $26.36 on Friday. The company has a market capitalization of $18.25 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 1.92 and a beta of 0.82. Endeavor Group has a fifty-two week low of $17.65 and a fifty-two week high of $26.63. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50-day moving average is $25.00 and its 200-day moving average is $23.76.

Endeavor Group (NYSE:EDR) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Endeavor Group had a return on equity of 1.05% and a net margin of 5.98%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.55 billion. Equities research analysts expect that Endeavor Group will post 1.27 EPS for the current fiscal year.

Endeavor Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a yield of 0.91%. Endeavor Group’s dividend payout ratio (DPR) is 23.08%.

Insider Activity

In other Endeavor Group news, CAO William K. Fullerton sold 1,148 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $23.22, for a total transaction of $26,656.56. Following the completion of the transaction, the chief accounting officer now owns 82,394 shares of the company’s stock, valued at $1,913,188.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Seth D. Krauss sold 17,950 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $24.08, for a total value of $432,236.00. Following the transaction, the chief accounting officer now directly owns 62,055 shares in the company, valued at approximately $1,494,284.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO William K. Fullerton sold 1,148 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $23.22, for a total value of $26,656.56. Following the completion of the transaction, the chief accounting officer now owns 82,394 shares in the company, valued at $1,913,188.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 198,613 shares of company stock valued at $4,874,524. 82.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Endeavor Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Endeavor Group by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 14,651,192 shares of the company’s stock worth $291,559,000 after buying an additional 254,550 shares during the last quarter. Morgan Stanley increased its position in Endeavor Group by 24.9% during the fourth quarter. Morgan Stanley now owns 13,474,269 shares of the company’s stock valued at $303,710,000 after acquiring an additional 2,689,204 shares during the last quarter. Millennium Management LLC lifted its holdings in Endeavor Group by 6.4% in the fourth quarter. Millennium Management LLC now owns 7,114,037 shares of the company’s stock valued at $160,350,000 after acquiring an additional 429,390 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Endeavor Group by 20.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,814,416 shares of the company’s stock worth $139,140,000 after buying an additional 978,196 shares during the period. Finally, FMR LLC raised its stake in shares of Endeavor Group by 3.7% in the third quarter. FMR LLC now owns 5,145,883 shares of the company’s stock worth $102,403,000 after buying an additional 184,212 shares during the period. 71.37% of the stock is owned by hedge funds and other 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.