Dark Pool Trades In Endeavor $EDR Stock, Somebody Knows Something

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A couple of unusually large dark pool trades occurred in Endeavor $EDR stock between October 19 – 20, 2022. We can not find a clear catalyst for the dark pool trades, which suggests somebody knows something.

Endeavor Group Holdings Inc. is an entertainment, sports and content company. It comprises industry, including entertainment agency WME; sports, fashion, events and media company IMG; and premier mixed martial arts organization UFC.

Dark Pool Trades Endeavor $EDR Stock

Two unusually large dark pool trades occurred recently in Endeavor $EDR stock. We think the dark pool trading data suggests the orders are buying because of how $EDR stock ultimately rose following the prints.

Endeavor stock chart on October 22, 2022, with dark pool trades in orange bars.

We can’t pinpoint a clear catalyst for the move. We can guess that the dark pool buying was from falling rates and a drop in the U.S. dollar, but there may be more to the story. Somebody appears to know something.

Credit Suisse Maintains Outperform on Endeavor, Lowers Price Target to $30

Credit Suisse analyst Douglas Mitchelson maintains Endeavor Gr Hldgs (NYSE:EDR) with an Outperform rating and lowered the price target from $33 to $30. Back on August 29, 2022, Credit Suisse analyst Douglas Mitchelson lowered the firm’s price target on Endeavor Group to $33 from $40 because of the weighted average cost of capital increased to 8% from 7.4% because of higher interest rates and his refreshed model changes. The analyst kept an Outperform rating on the shares following quarterly results that were well ahead due primarily to pull forwards from the second half of 2022.

Endeavor CEO breaks down media and entertainment landscape

Endeavor CEO breaks down media and entertainment landscape

Endeavor Group Holdings $EDR Stock Technical Analysis

Endeavor $EDR stock is in a technical strong downtrend. Long-term indicators support a continuation of the downtrend. Short-term indicators are turning positive, which opens the possibility of a trend reversal. The MACD is positive, but the money flow is still negative.

Endeavor stock chart on October 22, 2022, with a positive MACD and negative money flow.
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