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

StockNews.com started coverage on shares of Endeavor Group (NYSE:EDR) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the stock.

Endeavor Group Trading Down 0.6 %

Shares of Endeavor Group stock opened at $27.91 on Friday. The firm has a market capitalization of $19.34 billion, a PE ratio of 50.75 and a beta of 0.77. Endeavor Group has a twelve month low of $17.65 and a twelve month high of $28.10. The firm’s 50-day moving average price is $27.45 and its 200 day moving average price is $26.79. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26.

Endeavor Group (NYSE:EDR) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). Endeavor Group had a positive return on equity of 4.45% and a negative net margin of 6.23%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.87 billion. On average, sell-side analysts predict that Endeavor Group will post 1.4 EPS for the current fiscal year.

Endeavor Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, September 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. Endeavor Group’s dividend payout ratio (DPR) is currently 43.64%.

Insider Transactions at Endeavor Group

In related news, CFO Jason Lublin sold 20,832 shares of Endeavor Group stock in a transaction on Monday, July 29th. The shares were sold at an average price of $27.28, for a total transaction of $568,296.96. Following the sale, the chief financial officer now directly owns 130,187 shares in the company, valued at approximately $3,551,501.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 63.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Pentwater Capital Management LP increased its stake in shares of Endeavor Group by 457.0% during the second quarter. Pentwater Capital Management LP now owns 13,200,000 shares of the company’s stock worth $356,796,000 after acquiring an additional 10,830,000 shares during the period. Davidson Kempner Capital Management LP acquired a new position in shares of Endeavor Group during the second quarter worth about $205,038,000. Mubadala Investment Co PJSC acquired a new position in shares of Endeavor Group during the fourth quarter worth about $52,983,000. Glazer Capital LLC acquired a new position in shares of Endeavor Group during the second quarter worth about $49,017,000. Finally, Water Island Capital LLC acquired a new position in shares of Endeavor Group during the second quarter worth about $28,497,000. 71.37% of the stock is currently owned by institutional investors and hedge funds.

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.