Endeavor Group (NYSE:EDR) Upgraded at StockNews.com

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

Endeavor Group Stock Up 0.4 %

EDR stock opened at $31.34 on Friday. The company has a market capitalization of $21.44 billion, a price-to-earnings ratio of -15.29 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.63 and a current ratio of 0.63. The business’s 50 day moving average price is $29.94 and its two-hundred day moving average price is $28.46. Endeavor Group has a fifty-two week low of $22.75 and a fifty-two week high of $31.42.

Endeavor Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Monday, December 16th. Endeavor Group’s dividend payout ratio is currently -11.71%.

Insider Transactions at Endeavor Group

In related news, major shareholder Patrick Whitesell purchased 263,200 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of $146.97 per share, with a total value of $38,682,504.00. Following the transaction, the insider now directly owns 418,587 shares in the company, valued at $61,519,731.39. This trade represents a 169.38 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ariel Emanuel sold 48,176 shares of Endeavor Group stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $29.04, for a total value of $1,399,031.04. Following the transaction, the chief executive officer now owns 1,831,247 shares of the company’s stock, valued at $53,179,412.88. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 63.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. LMR Partners LLP boosted its position in shares of Endeavor Group by 41.6% during the third quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock valued at $125,486,000 after buying an additional 1,290,867 shares during the last quarter. Moran Wealth Management LLC purchased a new position in shares of Endeavor Group during the third quarter valued at approximately $2,870,000. Geode Capital Management LLC lifted its position in Endeavor Group by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,077,887 shares of the company’s stock valued at $59,367,000 after purchasing an additional 79,212 shares during the period. Davide Leone & Partners Investment Co Ltd. boosted its holdings in Endeavor Group by 81.0% in the second quarter. Davide Leone & Partners Investment Co Ltd. now owns 848,945 shares of the company’s stock worth $22,947,000 after purchasing an additional 380,000 shares during the last quarter. Finally, Athos Capital Ltd grew its position in Endeavor Group by 135.9% in the 3rd quarter. Athos Capital Ltd now owns 7,719,200 shares of the company’s stock worth $220,460,000 after purchasing an additional 4,447,000 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.