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

Analysts at StockNews.com started coverage on shares of Endeavor Group (NYSE:EDR) in a research note issued to investors on Friday. The brokerage set a “sell” rating on the stock.

Separately, Seaport Res Ptn lowered Endeavor Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 11th.

Endeavor Group Price Performance

EDR stock opened at $30.05 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.63 and a current ratio of 0.63. The company’s fifty day moving average price is $30.35 and its 200-day moving average price is $30.22. Endeavor Group has a one year low of $26.32 and a one year high of $35.99. The company has a market capitalization of $20.62 billion, a PE ratio of -14.66 and a beta of 0.72.

Insider Buying and Selling at Endeavor Group

In related news, major shareholder Patrick Whitesell acquired 120,958 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were acquired at an average cost of $150.92 per share, for a total transaction of $18,254,981.36. Following the completion of the transaction, the insider now directly owns 1,152,762 shares in the company, valued at approximately $173,974,841.04. This trade represents a 11.72 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Canada Pension Plan Investment sold 21,038,712 shares of Endeavor Group stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $27.50, for a total value of $578,564,580.00. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 1,086,488 shares of company stock worth $173,857,280 and sold 21,176,517 shares worth $582,701,109. 63.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Endeavor Group

Institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in Endeavor Group by 8.9% in the 4th quarter. California State Teachers Retirement System now owns 172,476 shares of the company’s stock worth $5,397,000 after purchasing an additional 14,039 shares during the period. Polar Asset Management Partners Inc. grew its stake in shares of Endeavor Group by 7.5% during the fourth quarter. Polar Asset Management Partners Inc. now owns 2,150,000 shares of the company’s stock valued at $67,274,000 after buying an additional 150,000 shares during the last quarter. Credit Industriel ET Commercial purchased a new stake in shares of Endeavor Group in the fourth quarter worth approximately $8,426,000. Ascent Group LLC lifted its stake in shares of Endeavor Group by 21.8% during the 4th quarter. Ascent Group LLC now owns 89,711 shares of the company’s stock worth $2,807,000 after acquiring an additional 16,080 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in Endeavor Group in the 4th quarter valued at $810,000. Institutional investors 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.