Endeavor Group (NYSE:EDR) Cut to Neutral at Citigroup

Citigroup downgraded shares of Endeavor Group (NYSE:EDR) from a buy rating to a neutral rating in a research report report published on Monday, Marketbeat.com reports. They currently have $27.50 target price on the stock, down from their prior target price of $29.00.

A number of other research firms have also issued reports on EDR. TD Cowen lifted their target price on Endeavor Group from $28.00 to $30.00 and gave the stock an outperform rating in a report on Monday, March 25th. StockNews.com started coverage on Endeavor Group in a research report on Saturday, April 13th. They issued a hold rating for the company. Seaport Res Ptn lowered Endeavor Group from a buy rating to a neutral rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. reiterated a neutral rating and issued a $27.50 price target (down previously from $30.00) on shares of Endeavor Group in a research report on Friday, April 5th. Finally, UBS Group reiterated a neutral rating and issued a $27.50 price target (down previously from $31.00) on shares of Endeavor Group in a research report on Wednesday, April 3rd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $29.30.

Endeavor Group Price Performance

NYSE:EDR opened at $26.34 on Monday. The business’s 50-day moving average price is $25.04 and its 200 day moving average price is $23.77. The firm has a market cap of $18.24 billion, a P/E ratio of 25.33, a PEG ratio of 1.92 and a beta of 0.82. Endeavor Group has a 52-week low of $17.65 and a 52-week high of $26.63. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.43.

Endeavor Group (NYSE:EDR) last released its earnings results on Wednesday, February 28th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.55 billion. Endeavor Group had a return on equity of 1.05% and a net margin of 5.98%. As a group, sell-side analysts predict that Endeavor Group will post 1.27 earnings per share for the current fiscal year.

Endeavor Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.91%. Endeavor Group’s dividend payout ratio is 23.08%.

Insider Activity

In other news, CFO Jason Lublin sold 46,419 shares of Endeavor Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $24.08, for a total transaction of $1,117,769.52. Following the completion of the sale, the chief financial officer now directly owns 112,457 shares in the company, valued at approximately $2,707,964.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Jason Lublin sold 46,419 shares of Endeavor Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $24.08, for a total transaction of $1,117,769.52. Following the completion of the sale, the chief financial officer now directly owns 112,457 shares in the company, valued at approximately $2,707,964.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark S. Shapiro sold 70,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $24.08, for a total value of $1,700,048.00. Following the completion of the transaction, the insider now directly owns 81,460 shares in the company, valued at $1,961,556.80. The disclosure for this sale can be found here. Insiders sold a total of 197,465 shares of company stock worth $4,847,868 in the last three months. 82.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Endeavor Group by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 14,651,192 shares of the company’s stock valued at $291,559,000 after acquiring an additional 254,550 shares in the last quarter. Morgan Stanley raised its stake in shares of Endeavor Group by 24.9% in the 4th quarter. Morgan Stanley now owns 13,474,269 shares of the company’s stock valued at $303,710,000 after acquiring an additional 2,689,204 shares in the last quarter. Millennium Management LLC raised its stake in shares of Endeavor Group by 6.4% in the 4th quarter. Millennium Management LLC now owns 7,114,037 shares of the company’s stock valued at $160,350,000 after acquiring an additional 429,390 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Endeavor Group by 20.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,814,416 shares of the company’s stock valued at $139,140,000 after acquiring an additional 978,196 shares in the last quarter. Finally, FMR LLC increased its position in Endeavor Group by 3.7% in the 3rd quarter. FMR LLC now owns 5,145,883 shares of the company’s stock worth $102,403,000 after buying an additional 184,212 shares during the period. 71.37% of the stock is owned by institutional investors.

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.