Coatue Management LLC Makes New Investment in Endeavor Group Holdings, Inc. (NYSE:EDR)

Coatue Management LLC acquired a new position in shares of Endeavor Group Holdings, Inc. (NYSE:EDR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 24,999,999 shares of the company’s stock, valued at approximately $692,749,000. Endeavor Group makes up approximately 2.7% of Coatue Management LLC’s holdings, making the stock its 15th biggest position. Coatue Management LLC owned approximately 3.64% of Endeavor Group at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. FMR LLC acquired a new position in Endeavor Group in the second quarter valued at approximately $329,816,000. Clearbridge Investments LLC acquired a new stake in shares of Endeavor Group in the second quarter valued at approximately $48,931,000. JPMorgan Chase & Co. acquired a new stake in shares of Endeavor Group in the second quarter valued at approximately $31,411,000. Teacher Retirement System of Texas acquired a new stake in shares of Endeavor Group in the second quarter valued at approximately $23,092,000. Finally, Alliancebernstein L.P. acquired a new stake in shares of Endeavor Group in the second quarter valued at approximately $19,922,000. 32.79% of the stock is owned by institutional investors and hedge funds.

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

Endeavor Group (NYSE:EDR) last issued its quarterly earnings results on Sunday, August 15th. The company reported 0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of -0.01 by 0.20. The business had revenue of 1.11 billion during the quarter, compared to analyst estimates of 1.14 billion. As a group, equities analysts expect that Endeavor Group Holdings, Inc. will post 0.71 EPS for the current fiscal year.

EDR has been the subject of several analyst reports. Piper Sandler cut their price target on Endeavor Group from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, August 17th. Zacks Investment Research cut Endeavor Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of 33.38.

Endeavor Group Company 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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