Endeavor Group (NYSE:EDR) Cut to “Sell” at StockNews.com

Endeavor Group (NYSE:EDR) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Endeavor Group Stock Performance

NYSE:EDR opened at $31.20 on Friday. Endeavor Group has a 1-year low of $22.75 and a 1-year high of $31.49. The firm has a 50 day simple moving average of $30.15 and a 200-day simple moving average of $28.59. The firm has a market cap of $21.35 billion, a PE ratio of -15.22 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.63 and a quick ratio of 0.63.

Insider Activity

In other news, major shareholder Patrick Whitesell acquired 263,200 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average cost of $146.97 per share, for a total transaction of $38,682,504.00. Following the acquisition, the insider now directly owns 418,587 shares in the company, valued at approximately $61,519,731.39. This represents a 169.38 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ariel Emanuel sold 48,176 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $29.04, for a total value of $1,399,031.04. Following the completion of the transaction, the chief executive officer now directly owns 1,831,247 shares in the company, valued at $53,179,412.88. This trade represents a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 63.90% of the company’s stock.

Institutional Investors Weigh In On Endeavor Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. LMR Partners LLP grew its holdings in shares of Endeavor Group by 41.6% during the 3rd quarter. LMR Partners LLP now owns 4,393,759 shares of the company’s stock worth $125,486,000 after purchasing an additional 1,290,867 shares during the period. Moran Wealth Management LLC acquired a new position in Endeavor Group during the third quarter valued at approximately $2,870,000. Geode Capital Management LLC grew its stake in Endeavor Group by 4.0% during the third quarter. Geode Capital Management LLC now owns 2,077,887 shares of the company’s stock worth $59,367,000 after buying an additional 79,212 shares during the period. Davide Leone & Partners Investment Co Ltd. increased its position in shares of Endeavor Group by 81.0% in 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 in the last quarter. Finally, Athos Capital Ltd raised its stake in shares of Endeavor Group by 135.9% in the 3rd quarter. Athos Capital Ltd now owns 7,719,200 shares of the company’s stock valued at $220,460,000 after acquiring an additional 4,447,000 shares during the period. 74.99% of the stock is currently owned by institutional investors and hedge funds.

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.