Endeavor Group (NYSE:EDR) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Endeavor Group (NYSE:EDR) from a hold rating to a sell rating in a report issued on Saturday.

Endeavor Group Price Performance

Shares of NYSE EDR opened at $31.20 on Friday. The stock has a market cap of $21.35 billion, a P/E ratio of -15.22 and a beta of 0.76. The firm’s 50-day simple moving average is $30.15 and its 200 day simple moving average is $28.60. Endeavor Group has a fifty-two week low of $22.75 and a fifty-two week high of $31.49. 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 disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Monday, December 16th. Endeavor Group’s dividend payout ratio (DPR) is presently -11.71%.

Insider Activity at Endeavor Group

In other news, CEO Ariel Emanuel sold 48,176 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $29.04, for a total transaction of $1,399,031.04. Following the completion of the transaction, the chief executive officer now owns 1,831,247 shares in the company, valued at approximately $53,179,412.88. This trade represents a 2.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Patrick Whitesell bought 60,208 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $143.73 per share, for a total transaction of $8,653,695.84. Following the completion of the acquisition, the insider now directly owns 1,734,530 shares in the company, valued at approximately $249,303,996.90. This represents a 3.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 63.90% of the company’s stock.

Institutional Trading of Endeavor Group

Large investors have recently added to or reduced their stakes in the business. Davidson Kempner Capital Management LP acquired a new stake in shares of Endeavor Group during the 2nd quarter valued at $205,038,000. Athos Capital Ltd lifted its holdings in shares of Endeavor Group by 135.9% during the third quarter. Athos Capital Ltd now owns 7,719,200 shares of the company’s stock valued at $220,460,000 after purchasing an additional 4,447,000 shares during the last quarter. Glazer Capital LLC acquired a new position in shares of Endeavor Group in the 2nd quarter valued at $49,017,000. Polar Asset Management Partners Inc. increased its stake in Endeavor Group by 300.0% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,000,000 shares of the company’s stock worth $57,120,000 after purchasing an additional 1,500,000 shares in the last quarter. Finally, LMR Partners LLP raised its holdings in Endeavor Group by 41.6% during the 3rd quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock worth $125,486,000 after buying an additional 1,290,867 shares during the period. 74.99% of the stock is currently owned by institutional investors.

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.