JPMorgan Chase & Co. Reiterates Neutral Rating for Endeavor Group (NYSE:EDR)

JPMorgan Chase & Co. reiterated their neutral rating on shares of Endeavor Group (NYSE:EDR) in a research report sent to investors on Friday, Benzinga reports. The firm currently has a $27.50 price target on the stock, down from their prior price target of $30.00.

Several other research firms have also commented on EDR. UBS Group restated a neutral rating and issued a $27.50 price target (down previously from $31.00) on shares of Endeavor Group in a report on Wednesday. Seaport Res Ptn downgraded shares of Endeavor Group from a buy rating to a neutral rating in a research report on Tuesday, April 2nd. Guggenheim reissued a neutral rating and set a $27.50 price target (down previously from $36.00) on shares of Endeavor Group in a research report on Wednesday. Jefferies Financial Group reaffirmed a hold rating and issued a $27.50 price objective (down previously from $29.00) on shares of Endeavor Group in a report on Thursday. Finally, StockNews.com downgraded shares of Endeavor Group from a hold rating to a sell rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $29.85.

Endeavor Group Price Performance

NYSE:EDR opened at $26.37 on Friday. The firm has a market cap of $18.26 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 1.91 and a beta of 0.82. Endeavor Group has a 12-month low of $17.65 and a 12-month high of $26.55. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average is $24.78 and its two-hundred day moving average is $23.44.

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

Endeavor Group Announces Dividend

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

Insider Buying and Selling

In related news, CFO Jason Lublin sold 20,832 shares of Endeavor Group stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $25.47, for a total value of $530,591.04. Following the transaction, the chief financial officer now owns 55,705 shares of the company’s stock, valued at approximately $1,418,806.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mark S. Shapiro sold 70,600 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $24.08, for a total value of $1,700,048.00. Following the completion of the sale, the insider now directly owns 81,460 shares in the company, valued at approximately $1,961,556.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jason Lublin sold 20,832 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $25.47, for a total value of $530,591.04. Following the completion of the sale, the chief financial officer now owns 55,705 shares of the company’s stock, valued at $1,418,806.35. The disclosure for this sale can be found here. Insiders have sold a total of 177,781 shares of company stock valued at $4,322,060 over the last three months. Company insiders own 82.08% 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 stock. Morgan Stanley boosted its stake in Endeavor Group by 3.8% in the third quarter. Morgan Stanley now owns 12,278,380 shares of the company’s stock worth $244,340,000 after purchasing an additional 454,790 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Endeavor Group by 2.4% during the third quarter. Clearbridge Investments LLC now owns 4,300,851 shares of the company’s stock worth $85,587,000 after buying an additional 100,396 shares in the last quarter. FMR LLC grew its stake in Endeavor Group by 3.7% in the third quarter. FMR LLC now owns 5,145,883 shares of the company’s stock valued at $102,403,000 after purchasing an additional 184,212 shares in the last quarter. Vanguard Group Inc. grew its stake in Endeavor Group by 1.8% in the third quarter. Vanguard Group Inc. now owns 14,651,192 shares of the company’s stock valued at $291,559,000 after purchasing an additional 254,550 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Endeavor Group by 10.3% in the third quarter. Bank of New York Mellon Corp now owns 281,396 shares of the company’s stock valued at $5,600,000 after purchasing an additional 26,178 shares in the last quarter. 71.37% 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.