Endeavor Group (NYSE:EDR) Cut to “Strong Sell” at Seaport Res Ptn

Seaport Res Ptn lowered shares of Endeavor Group (NYSE:EDR) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Separately, StockNews.com cut shares of Endeavor Group from a “hold” rating to a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Endeavor Group currently has a consensus rating of “Hold” and an average target price of $27.86.

Endeavor Group Price Performance

Shares of NYSE EDR opened at $35.53 on Tuesday. The business has a 50 day simple moving average of $31.19 and a 200-day simple moving average of $29.43. Endeavor Group has a twelve month low of $23.14 and a twelve month high of $35.89. The company has a market capitalization of $24.30 billion, a price-to-earnings ratio of -17.33 and a beta of 0.74. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28.

Endeavor Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, December 16th. This represents a $0.24 annualized dividend and a yield of 0.68%. Endeavor Group’s payout ratio is -11.71%.

Insider Activity at Endeavor Group

In other news, major shareholder Patrick Whitesell purchased 263,200 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $146.97 per share, for a total transaction of $38,682,504.00. Following the completion of the acquisition, the insider now directly owns 418,587 shares of the company’s stock, valued at $61,519,731.39. The trade was a 169.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO William K. Fullerton sold 2,225 shares of the firm’s 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 of the company’s stock, valued at $1,624,531.92. This represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders bought 1,535,485 shares of company stock valued at $239,160,243 over the last 90 days. 63.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Endeavor Group

Several hedge funds and other institutional investors have recently modified their holdings of EDR. Guggenheim Capital LLC raised its holdings in shares of Endeavor Group by 2.0% during the fourth quarter. Guggenheim Capital LLC now owns 15,276 shares of the company’s stock worth $478,000 after acquiring an additional 304 shares in the last quarter. Water Island Capital LLC lifted its holdings in shares of Endeavor Group by 1.5% during the 4th quarter. Water Island Capital LLC now owns 1,346,226 shares of the company’s stock valued at $42,123,000 after buying an additional 19,565 shares during the last quarter. Legal & General Group Plc increased its holdings in Endeavor Group by 4.3% in the fourth quarter. Legal & General Group Plc now owns 190,254 shares of the company’s stock worth $5,953,000 after buying an additional 7,903 shares during the last quarter. Invesco Ltd. increased its holdings in Endeavor Group by 5.3% in the fourth quarter. Invesco Ltd. now owns 10,044 shares of the company’s stock worth $314,000 after buying an additional 505 shares during the last quarter. Finally, ADAR1 Capital Management LLC lifted its stake in Endeavor Group by 71.6% in the fourth quarter. ADAR1 Capital Management LLC now owns 210,729 shares of the company’s stock valued at $6,594,000 after acquiring an additional 87,922 shares during the last quarter. Institutional investors and hedge funds own 74.99% of the company’s stock.

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.