Endeavor Group (NYSE:EDR) Cut to “Strong Sell” at Seaport Res Ptn

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

Separately, StockNews.com lowered Endeavor Group from a “hold” rating to a “sell” rating in a report on Monday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.86.

Endeavor Group Stock Performance

EDR opened at $35.53 on Tuesday. Endeavor Group has a 12-month low of $23.14 and a 12-month high of $35.89. The firm has a market capitalization of $24.30 billion, a P/E ratio of -17.33 and a beta of 0.74. The stock’s 50 day moving average price is $31.19 and its two-hundred day moving average price is $29.43. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.28.

Endeavor Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were given a $0.06 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.68%. Endeavor Group’s payout ratio is -11.71%.

Insider Activity

In related news, CAO William K. Fullerton sold 2,225 shares of the company’s stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Patrick Whitesell purchased 263,200 shares of the stock in a transaction dated 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 purchase, the insider now owns 418,587 shares in the company, valued at $61,519,731.39. The trade was a 169.38 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 1,535,485 shares of company stock valued at $239,160,243. 63.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Endeavor Group

A number of large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Endeavor Group by 176.1% in the 4th quarter. Blue Trust Inc. now owns 2,303 shares of the company’s stock valued at $66,000 after acquiring an additional 1,469 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Endeavor Group in the fourth quarter valued at approximately $96,000. FMR LLC raised its stake in shares of Endeavor Group by 67.6% during the 3rd quarter. FMR LLC now owns 5,575 shares of the company’s stock worth $159,000 after purchasing an additional 2,248 shares in the last quarter. KBC Group NV raised its stake in shares of Endeavor Group by 65.3% during the 4th quarter. KBC Group NV now owns 7,191 shares of the company’s stock worth $225,000 after purchasing an additional 2,842 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Endeavor Group in the fourth quarter valued at $233,000. 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.