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

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

Separately, Seaport Res Ptn downgraded shares of Endeavor Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 11th.

Endeavor Group Trading Up 4.2 %

Shares of Endeavor Group stock opened at $30.05 on Thursday. The business has a fifty day simple moving average of $30.51 and a 200-day simple moving average of $30.19. Endeavor Group has a fifty-two week low of $26.29 and a fifty-two week high of $35.99. The firm has a market cap of $20.62 billion, a price-to-earnings ratio of -14.66 and a beta of 0.72. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.28.

Endeavor Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.06 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.80%. Endeavor Group’s dividend payout ratio is currently -9.02%.

Insider Transactions at Endeavor Group

In other Endeavor Group news, insider Canada Pension Plan Investment sold 21,038,712 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $27.50, for a total transaction of $578,564,580.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William K. Fullerton sold 2,225 shares of Endeavor Group stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $30.58, for a total transaction of $68,040.50. Following the completion of the transaction, the chief accounting officer now directly owns 53,124 shares in the company, valued at approximately $1,624,531.92. This trade represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 1,212,077 shares of company stock valued at $191,824,043 and sold 21,178,742 shares valued at $582,769,150. Corporate insiders own 63.90% of the company’s stock.

Institutional Trading of Endeavor Group

Several large investors have recently added to or reduced their stakes in EDR. Kapitalo Investimentos Ltda acquired a new stake in shares of Endeavor Group in the fourth quarter worth $51,000. Blue Trust Inc. lifted its stake in Endeavor Group by 176.1% in the 4th quarter. Blue Trust Inc. now owns 2,303 shares of the company’s stock worth $66,000 after acquiring an additional 1,469 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Endeavor Group during the 4th quarter worth about $96,000. BNP Paribas Financial Markets purchased a new position in Endeavor Group during the 4th quarter valued at about $120,000. Finally, FMR LLC increased its holdings in shares of Endeavor Group by 67.6% in the 3rd quarter. FMR LLC now owns 5,575 shares of the company’s stock valued at $159,000 after purchasing an additional 2,248 shares during the period. 74.99% of the stock is owned by institutional investors and hedge funds.

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.