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

StockNews.com assumed coverage on shares of Endeavor Group (NYSE:EDR) in a research report released on Friday. The firm issued a hold rating on the stock.

Endeavor Group Price Performance

Shares of NYSE:EDR opened at $29.10 on Friday. The company has a 50-day moving average price of $28.75 and a two-hundred day moving average price of $27.67. Endeavor Group has a twelve month low of $22.64 and a twelve month high of $29.67. The company has a quick ratio of 0.62, a current ratio of 0.63 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $19.91 billion, a PE ratio of -14.20 and a beta of 0.77.

Endeavor Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Monday, September 16th. Endeavor Group’s payout ratio is currently -11.71%.

Insider Activity

In related news, CEO Ariel Emanuel sold 27,816 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.01, for a total transaction of $779,126.16. Following the completion of the transaction, the chief executive officer now owns 1,831,247 shares of the company’s stock, valued at approximately $51,293,228.47. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 225,272 shares of company stock worth $6,372,925. 63.90% of the stock is owned by corporate insiders.

Institutional Trading of Endeavor Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Endeavor Group by 4.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,077,887 shares of the company’s stock worth $59,367,000 after buying an additional 79,212 shares during the last quarter. Barclays PLC raised its position in Endeavor Group by 5,247.7% during the third quarter. Barclays PLC now owns 318,188 shares of the company’s stock valued at $9,087,000 after purchasing an additional 312,238 shares in the last quarter. XTX Topco Ltd lifted its stake in Endeavor Group by 142.3% during the third quarter. XTX Topco Ltd now owns 90,867 shares of the company’s stock worth $2,595,000 after purchasing an additional 53,370 shares during the last quarter. Whitefort Capital Management LP purchased a new position in shares of Endeavor Group in the 3rd quarter worth about $28,560,000. Finally, Polar Asset Management Partners Inc. grew its holdings in shares of Endeavor Group by 300.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company’s stock valued at $57,120,000 after purchasing an additional 1,500,000 shares during the last quarter. Hedge funds and other institutional investors own 71.37% of the company’s stock.

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.