Coatue Management LLC Invests $692.75 Million in Endeavor Group Holdings, Inc. (NYSE:EDR)

Coatue Management LLC bought a new position in Endeavor Group Holdings, Inc. (NYSE:EDR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,999,999 shares of the company’s stock, valued at approximately $692,749,000. Endeavor Group makes up about 2.7% of Coatue Management LLC’s holdings, making the stock its 15th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TCW Group Inc. acquired a new stake in Endeavor Group during the 2nd quarter worth $2,716,000. Alliancebernstein L.P. bought a new stake in shares of Endeavor Group during the second quarter worth approximately $19,922,000. Sanders Morris Harris LLC bought a new stake in shares of Endeavor Group during the second quarter worth approximately $3,655,000. Calamos Advisors LLC bought a new stake in shares of Endeavor Group during the second quarter worth approximately $507,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Endeavor Group during the second quarter worth approximately $341,000. Institutional investors and hedge funds own 32.79% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research cut Endeavor Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 3rd. Piper Sandler dropped their price target on shares of Endeavor Group from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, August 17th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of 33.38.

EDR traded up 0.06 during trading on Thursday, hitting 25.00. 20,078 shares of the stock traded hands, compared to its average volume of 1,045,178. Endeavor Group Holdings, Inc. has a twelve month low of 22.02 and a twelve month high of 33.20. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50 day moving average is 25.99.

Endeavor Group (NYSE:EDR) last announced its quarterly earnings data on Sunday, August 15th. The company reported 0.19 EPS for the quarter, beating the consensus estimate of -0.01 by 0.20. The firm had revenue of 1.11 billion for the quarter, compared to analyst estimates of 1.14 billion. On average, analysts expect that Endeavor Group Holdings, Inc. will post 0.71 earnings per share for the current fiscal year.

Endeavor Group Profile

Endeavor Group Holdings, Inc operates as an entertainment, sports, and content company in the United States, the United Kingdom, and internationally. It operates in three segments: Owned Sports Properties, Events, Experiences & Rights, and Representation. The Owned Sports Properties segment operates a portfolio of sports properties, including Ultimate Fighting Championship, Professional Bull Rider, and Euroleague that license broadcast and other intellectual property rights and operate exclusive live events.

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Institutional Ownership by Quarter for Endeavor Group (NYSE:EDR)

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