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

Equities research analysts at StockNews.com began coverage on shares of Endeavor Group (NYSE:EDR) in a research note issued on Wednesday. The firm set a “hold” rating on the stock.

Endeavor Group Stock Performance

Shares of EDR opened at $29.50 on Wednesday. Endeavor Group has a 12 month low of $22.59 and a 12 month high of $29.54. The stock has a fifty day moving average price of $28.38 and a 200-day moving average price of $27.44. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.26. The firm has a market cap of $20.19 billion, a PE ratio of -20.49 and a beta of 0.78.

Endeavor Group (NYSE:EDR) last issued its earnings results on Thursday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.06). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Endeavor Group had a positive return on equity of 4.45% and a negative net margin of 6.23%. Equities research analysts predict that Endeavor Group will post 1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ariel Emanuel sold 48,176 shares of Endeavor Group stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $29.04, for a total transaction of $1,399,031.04. Following the sale, the chief executive officer now owns 1,831,247 shares of the company’s stock, valued at approximately $53,179,412.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 225,272 shares of company stock valued at $6,372,925 in the last ninety days. 63.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Endeavor Group

Several institutional investors have recently modified their holdings of EDR. Swiss National Bank raised its holdings in shares of Endeavor Group by 8.1% in the first quarter. Swiss National Bank now owns 356,000 shares of the company’s stock valued at $9,160,000 after buying an additional 26,800 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Endeavor Group in the first quarter valued at approximately $644,000. Gabelli Funds LLC boosted its position in Endeavor Group by 125.0% during the first quarter. Gabelli Funds LLC now owns 71,899 shares of the company’s stock worth $1,850,000 after acquiring an additional 39,950 shares during the last quarter. Davide Leone & Partners Investment Co Ltd. boosted its position in Endeavor Group by 81.0% during the second quarter. Davide Leone & Partners Investment Co Ltd. now owns 848,945 shares of the company’s stock worth $22,947,000 after acquiring an additional 380,000 shares during the last quarter. Finally, JBF Capital Inc. purchased a new position in Endeavor Group during the second quarter worth approximately $622,000. 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.