StockNews.com Upgrades Endeavor Group (NYSE:EDR) to “Hold”

Endeavor Group (NYSE:EDR) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Endeavor Group Trading Up 0.4 %

Endeavor Group stock traded up $0.11 during trading on Friday, reaching $31.34. The company had a trading volume of 940,368 shares, compared to its average volume of 3,299,862. Endeavor Group has a 12-month low of $22.75 and a 12-month high of $31.42. 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 stock’s 50 day moving average price is $29.94 and its two-hundred day moving average price is $28.44. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of -15.29 and a beta of 0.76.

Insider Activity at Endeavor Group

In other Endeavor Group news, major shareholder Patrick Whitesell bought 263,200 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $146.97 per share, with a total value of $38,682,504.00. Following the purchase, the insider now owns 418,587 shares in the company, valued at approximately $61,519,731.39. The trade was a 169.38 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ariel Emanuel sold 48,176 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was 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 directly owns 1,831,247 shares of the company’s stock, valued at approximately $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. 63.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EDR. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Endeavor Group by 28.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,723 shares of the company’s stock worth $1,074,000 after purchasing an additional 8,859 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in Endeavor Group in the 2nd quarter worth $2,703,000. Pentwater Capital Management LP boosted its position in Endeavor Group by 457.0% in the 2nd quarter. Pentwater Capital Management LP now owns 13,200,000 shares of the company’s stock valued at $356,796,000 after buying an additional 10,830,000 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Endeavor Group during the second quarter valued at about $226,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Endeavor Group during the second quarter worth about $2,796,000. Institutional investors and hedge funds own 74.99% 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.