Citigroup Lowers Endeavor Group (NYSE:EDR) to Neutral

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

EDR has been the topic of several other research reports. Guggenheim reaffirmed a neutral rating and issued a $27.50 price target (down previously from $36.00) on shares of Endeavor Group in a research note on Wednesday, April 3rd. StockNews.com initiated coverage on Endeavor Group in a research note on Saturday, April 13th. They issued a hold rating on the stock. Jefferies Financial Group reaffirmed a hold rating and issued a $27.50 price target (down previously from $29.00) on shares of Endeavor Group in a research note on Thursday, April 4th. UBS Group reissued a neutral rating and set a $27.50 target price (down previously from $31.00) on shares of Endeavor Group in a research note on Wednesday, April 3rd. Finally, Evercore ISI reissued an in-line rating and set a $27.50 target price (down previously from $28.00) on shares of Endeavor Group in a research note on Wednesday, April 3rd. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Endeavor Group presently has an average rating of Hold and an average price target of $29.30.

Endeavor Group Stock Up 0.4 %

Shares of EDR opened at $26.44 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.24 and a current ratio of 1.24. Endeavor Group has a one year low of $17.65 and a one year high of $26.63. The stock has a market capitalization of $18.31 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.92 and a beta of 0.82. The stock has a 50 day moving average price of $25.09 and a 200 day moving average price of $23.79.

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

Endeavor Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.06 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.91%. Endeavor Group’s dividend payout ratio (DPR) is presently 23.08%.

Insider Activity at Endeavor Group

In other Endeavor Group news, CFO Jason Lublin sold 20,832 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $25.47, for a total transaction of $530,591.04. Following the completion of the sale, the chief financial officer now directly owns 55,705 shares of the company’s stock, valued at approximately $1,418,806.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Seth D. Krauss sold 17,950 shares of Endeavor Group stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $24.08, for a total value of $432,236.00. Following the completion of the sale, the chief accounting officer now owns 62,055 shares of the company’s stock, valued at $1,494,284.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jason Lublin sold 20,832 shares of Endeavor Group stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $25.47, for a total value of $530,591.04. Following the completion of the transaction, the chief financial officer now owns 55,705 shares in the company, valued at approximately $1,418,806.35. The disclosure for this sale can be found here. Insiders sold a total of 197,465 shares of company stock valued at $4,847,868 in the last three months. 82.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EDR. Raymond James & Associates increased its holdings in Endeavor Group by 20.9% in the first quarter. Raymond James & Associates now owns 52,291 shares of the company’s stock valued at $1,544,000 after buying an additional 9,034 shares during the last quarter. BlackRock Inc. boosted its position in shares of Endeavor Group by 2,528.7% during the first quarter. BlackRock Inc. now owns 22,423 shares of the company’s stock worth $663,000 after buying an additional 21,570 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Endeavor Group in the first quarter worth approximately $475,000. Vanguard Group Inc. lifted its position in Endeavor Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,031,273 shares of the company’s stock worth $296,123,000 after purchasing an additional 70,123 shares during the period. Finally, Clearbridge Investments LLC lifted its position in shares of Endeavor Group by 10.3% during the 1st quarter. Clearbridge Investments LLC now owns 2,512,064 shares of the company’s stock valued at $74,156,000 after acquiring an additional 233,683 shares during the last quarter. Institutional investors and hedge funds own 71.37% 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.