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

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

Endeavor Group Stock Up 0.5 %

Shares of EDR stock traded up $0.15 on Friday, reaching $28.98. 3,005,882 shares of the company were exchanged, compared to its average volume of 3,491,383. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.62. The company has a 50-day moving average of $28.72 and a 200-day moving average of $27.64. The company has a market cap of $19.83 billion, a price-to-earnings ratio of -14.14 and a beta of 0.77. Endeavor Group has a one year low of $22.64 and a one year high of $29.67.

Endeavor Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.83%. Endeavor Group’s dividend payout ratio (DPR) is presently -11.71%.

Insider Transactions at Endeavor Group

In other news, CEO Ariel Emanuel sold 27,816 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,831,247 shares of the company’s stock, valued at $51,293,228.47. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 225,272 shares of company stock valued at $6,372,925 over the last ninety days. 63.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Endeavor Group

Hedge funds have recently added to or reduced their stakes in the stock. Longfellow Investment Management Co. LLC purchased a new position in shares of Endeavor Group during the second quarter valued at approximately $75,000. DekaBank Deutsche Girozentrale purchased a new position in Endeavor Group during the 1st quarter worth $102,000. SG Americas Securities LLC bought a new stake in shares of Endeavor Group in the 2nd quarter worth $130,000. FMR LLC raised its holdings in shares of Endeavor Group by 67.6% in the third 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 last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of Endeavor Group during the second quarter valued at about $226,000. Institutional investors and hedge funds 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.