Is Endeavor Group Holdings (NYSE: EDR) Close to a Bottom?

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Endeavor Group Holdings (NYSE: EDR) is an entertainment, content, and sports business. The overarching company consists of several businesses including UFC mixed martial arts, media monolith IMG and the entertainment agency WMC. Endeavor provides public relations, branding, advertising, sponsorships, live entertainment, content creation, and plenty more.

EDR News

EDR’s joint venture with the Associated Press to develop a worldwide sports news video company is particularly intriguing. Based in sunny Beverly Hills, California, EDR also has a joint venture partnership in the works for the development of a European basketball league. However, if you strictly look at the top news stories about the company as listed on investing websites you won’t find much of late. If you want the inside scoop on the rest of EDR’s latest deals and developments as noted above, surf the web on over to the company’s website.

Numbers of Note

Endeavor is currently trading at $24.21 per share. The stock’s 52-week high is $33.20 and a 52-week low of $22.02. EDR’s forward P/E ratio of 19.51 is somewhat high yet it is not elevated to the point that potential investors should be concerned.

Over the past three months, an average of 702,140 EDR shares exchange hands daily. The company has a market cap of $10.64 billion. EDR’s 50-day moving average is $26.15. The stock has a one-month price return of -5.24% and a three-month price return of -16.02%.

What are the Analysts Saying About EDR?

The top analysts are enthusiastically pounding the table in EDR’s favor. If these analysts’ price target of $34 for the stock turns out to be accurate, it will have increased by nearly 39%. The high forecast for the stock is $41. EDR’s low forecast is $29. A total of 12 analysts have issued EDR recommendations with exactly half considering the stock a Buy and the other half considering it a Hold.

Endeavor’s Brief History

Endeavor lack of extensive price returns is the result of its recent shift from the private realm to a publicly-traded company. The company went public in late April at $24 per share. The stock is currently trading at $23.09 per share. EDR successfully raised more than $500 from public markets and nearly $2 billion more in institutional investors’ private placements.

Take a look at ER’s chart going back to April and you will find it is quite choppy. The stock has been on a rollercoaster ride until mid-July. However, it appears as though EDR has established a floor of around $23.

Endeavor Stands to Benefit From the Reopening of Society

EDR’s money is primarily made through entertainment, sports, and content. From live concerts to live sporting events and content creation, consumers will be spending for just about everything as the economy reopens. As an example, EDR’s ownership of UFC should rake in the cash in the year ahead. Fans who have been cooped up indoors while social distancing will be quite eager to scoop up tickets to live events. UFC alone is worth $3.5 billion. Though there is always the potential for additional COVID-19 variants such as Delta and Delta+ to pop up, it appears as though things will be returning to normal, ultimately benefitting the likes of EDR.

Stay tuned. Endeavor could easily bounce back to life after its disappointing IPO. If anything, the company is the victim of bad timing. EDR was set to go public at a time when live sports, music, movies, and other entertainment-related events had limited capacity. Continue to monitor EDR moving forward.

Disclosure: Neither Matt Rego nor Spotlight Growth have any position or relationship with any companies mentioned in this article. No payment was made to create this article. This article should not be taken as a solicitation or recommendation to buy or sell any securities. Please conduct your own research and consult your financial advisor to determine your risk tolerance and investment path. We are not licensed brokers or investment advisors.

Is Endeavor Group Holdings (NYSE: EDR) Close to a Bottom?

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