Seaport Res Ptn Downgrades Endeavor Group (NYSE:EDR) to Strong Sell

Seaport Res Ptn downgraded shares of Endeavor Group (NYSE:EDR - Free Report) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

Separately, StockNews.com cut shares of Endeavor Group from a "hold" rating to a "sell" rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $27.86.

Endeavor Group Stock Down 0.9 %

Shares of Endeavor Group stock traded down $0.32 on Tuesday, reaching $35.18. 237,254 shares of the company were exchanged, compared to its average volume of 2,581,985. The stock's 50 day moving average price is $31.29 and its 200-day moving average price is $29.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63. Endeavor Group has a 1-year low of $23.14 and a 1-year high of $35.99. The company has a market cap of $24.07 billion, a P/E ratio of -17.16 and a beta of 0.74.

Endeavor Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.68%. Endeavor Group's dividend payout ratio is presently -11.71%.

Insider Transactions at Endeavor Group

In related news, major shareholder Patrick Whitesell bought 263,200 shares of the company's stock in a transaction on Monday, December 16th. The stock was bought at an average cost of $146.97 per share, with a total value of $38,682,504.00. Following the completion of the acquisition, the insider now owns 418,587 shares in the company, valued at approximately $61,519,731.39. This represents a 169.38 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO William K. Fullerton sold 2,225 shares of the company'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 value of $68,040.50. Following the completion of the sale, the chief accounting officer now owns 53,124 shares in the company, valued at approximately $1,624,531.92. This represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,535,485 shares of company stock worth $239,160,243. Insiders own 63.90% of the company's stock.

Institutional Investors Weigh In On Endeavor Group

Large investors have recently added to or reduced their stakes in the business. Athos Capital Ltd lifted its holdings in shares of Endeavor Group by 135.9% in 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 in the last quarter. Polar Asset Management Partners Inc. raised its position in shares of Endeavor Group by 300.0% during 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 during the last quarter. LMR Partners LLP lifted its stake 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 in the last quarter. Irenic Capital Management LP grew its holdings in Endeavor Group by 63.1% during the 4th quarter. Irenic Capital Management LP now owns 3,051,357 shares of the company's stock valued at $95,477,000 after buying an additional 1,180,333 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Endeavor Group by 8.3% during the 4th quarter. Vanguard Group Inc. now owns 15,185,871 shares of the company's stock valued at $475,166,000 after buying an additional 1,167,887 shares during the last quarter. 74.99% of the stock is owned by institutional investors and hedge funds.

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.