Citigroup Downgrades Endeavor Group (NYSE:EDR) to Neutral

Endeavor Group (NYSE:EDR) was downgraded by Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Monday, Marketbeat.com reports. They currently have a $27.50 price objective on the stock, down from their previous price objective of $29.00. Citigroup’s price objective would indicate a potential upside of 4.34% from the company’s previous close.

A number of other equities analysts have also issued reports on EDR. StockNews.com initiated coverage on shares of Endeavor Group in a research report on Saturday. They set a “hold” rating for the company. TD Cowen raised their price objective on shares of Endeavor Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, March 25th. UBS Group reaffirmed a “neutral” rating and set a $27.50 price objective (down previously from $31.00) on shares of Endeavor Group in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $27.50 price objective (down previously from $30.00) on shares of Endeavor Group in a research note on Friday, April 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $27.50 price objective (down previously from $29.00) on shares of Endeavor Group in a research note on Thursday, April 4th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $29.64.

Endeavor Group Stock Performance

Shares of Endeavor Group stock opened at $26.36 on Monday. The firm has a market capitalization of $18.25 billion, a P/E ratio of 25.34, a PEG ratio of 1.92 and a beta of 0.82. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $25.00 and a 200 day moving average price of $23.76. Endeavor Group has a 52 week low of $17.65 and a 52 week high of $26.63.

Endeavor Group (NYSE:EDR) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The firm had revenue of $1.58 billion during 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%. Sell-side analysts expect that Endeavor Group will post 1.27 EPS for the current year.

Insider Buying and Selling at Endeavor Group

In other Endeavor Group news, CAO William K. Fullerton sold 1,148 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $23.22, for a total value of $26,656.56. Following the transaction, the chief accounting officer now owns 82,394 shares in the company, valued at approximately $1,913,188.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Patrick Whitesell acquired 1,642,970 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were bought at an average price of $89.01 per share, for a total transaction of $146,240,759.70. Following the acquisition, the insider now owns 1,642,970 shares of the company’s stock, valued at approximately $146,240,759.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William K. Fullerton sold 1,148 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $23.22, for a total value of $26,656.56. Following the completion of the transaction, the chief accounting officer now owns 82,394 shares in the company, valued at approximately $1,913,188.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 198,613 shares of company stock worth $4,874,524. Corporate insiders own 82.08% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Harbour Capital Advisors LLC purchased a new position in shares of Endeavor Group during the 1st quarter worth $267,000. Renaissance Capital LLC raised its holdings in shares of Endeavor Group by 3.0% during the 1st quarter. Renaissance Capital LLC now owns 103,926 shares of the company’s stock worth $2,674,000 after acquiring an additional 3,019 shares during the period. Kapitalo Investimentos Ltda raised its holdings in shares of Endeavor Group by 193.7% during the 4th quarter. Kapitalo Investimentos Ltda now owns 13,135 shares of the company’s stock worth $312,000 after acquiring an additional 8,662 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Endeavor Group by 14.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,200 shares of the company’s stock worth $76,000 after acquiring an additional 399 shares during the period. Finally, Mubadala Investment Co PJSC purchased a new position in shares of Endeavor Group during the 4th quarter worth $52,983,000. Hedge funds and other institutional investors own 71.37% 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.