StockNews.com Upgrades Endeavor Group (NYSE:EDR) to “Hold”

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

Endeavor Group Stock Performance

Shares of EDR stock opened at $30.46 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.63 and a current ratio of 0.63. Endeavor Group has a fifty-two week low of $22.77 and a fifty-two week high of $31.49. The company has a market capitalization of $20.84 billion, a P/E ratio of -14.86 and a beta of 0.74. The stock has a 50 day moving average price of $30.33 and a two-hundred day moving average price of $28.80.

Endeavor Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Monday, December 16th. Endeavor Group’s dividend payout ratio (DPR) is presently -11.71%.

Insider Activity

In related news, CAO William K. Fullerton sold 6,875 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $31.17, for a total transaction of $214,293.75. Following the completion of the transaction, the chief accounting officer now owns 53,255 shares in the company, valued at $1,659,958.35. This represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Patrick Whitesell purchased 60,208 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $143.73 per share, with a total value of $8,653,695.84. Following the purchase, the insider now directly owns 1,734,530 shares of the company’s stock, valued at $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. Insiders own 63.90% of the company’s stock.

Hedge Funds Weigh In On Endeavor Group

Several hedge funds and other institutional investors have recently modified their holdings of EDR. Tidal Investments LLC boosted its position in Endeavor Group by 7.9% during the 3rd quarter. Tidal Investments LLC now owns 8,498 shares of the company’s stock valued at $243,000 after acquiring an additional 620 shares in the last quarter. Mirador Capital Partners LP boosted its position in shares of Endeavor Group by 3.0% during the fourth quarter. Mirador Capital Partners LP now owns 27,057 shares of the company’s stock valued at $847,000 after purchasing an additional 792 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Endeavor Group by 2.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,789 shares of the company’s stock worth $1,165,000 after purchasing an additional 1,066 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Endeavor Group by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 46,054 shares of the company’s stock worth $1,245,000 after purchasing an additional 1,346 shares in the last quarter. Finally, FMR LLC lifted its position in Endeavor Group by 67.6% during the third quarter. FMR LLC now owns 5,575 shares of the company’s stock valued at $159,000 after buying an additional 2,248 shares during the period. 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.