Endeavor Group (NYSE:EDR) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Endeavor Group (NYSE:EDR - Free Report) in a research note released on Monday morning. The brokerage issued a sell rating on the stock.

Endeavor Group Price Performance

Shares of Endeavor Group stock remained flat at $30.44 during trading on Monday. 1,377,851 shares of the stock traded hands, compared to its average volume of 3,389,417. Endeavor Group has a 1-year low of $22.64 and a 1-year high of $30.60. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28. The firm has a market cap of $20.82 billion, a P/E ratio of -14.85 and a beta of 0.76. The business's fifty day simple moving average is $29.37 and its two-hundred day simple moving average is $28.02.

Endeavor Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.06 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.79%. Endeavor Group's dividend payout ratio is presently -11.71%.

Insiders Place Their Bets

In other news, CEO Ariel Emanuel sold 27,816 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.01, for a total transaction of $779,126.16. Following the sale, the chief executive officer now owns 1,831,247 shares in the company, valued at approximately $51,293,228.47. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 225,272 shares of company stock valued at $6,372,925. 63.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pentwater Capital Management LP raised its stake in shares of Endeavor Group by 457.0% in 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 last quarter. Athos Capital Ltd raised its position in Endeavor Group by 135.9% in the 3rd quarter. Athos Capital Ltd now owns 7,719,200 shares of the company's stock worth $220,460,000 after purchasing an additional 4,447,000 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new position in Endeavor Group during the 2nd quarter worth $205,038,000. LMR Partners LLP boosted its position in Endeavor Group by 41.6% in the 3rd quarter. LMR Partners LLP now owns 4,393,759 shares of the company's stock valued at $125,486,000 after buying an additional 1,290,867 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake 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 valued at $59,367,000 after buying an additional 79,212 shares during the period. Institutional investors and hedge funds own 74.99% 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.