, WME, IMG and other media and event brands has a good momentum story to tell as UFC in particular looks to benefit from what is appears to be pent-up demand for sports, concerts and other live events.
“We have had a healthy dialogue with management team over the last few months. Particularly in the live-events business and the representation business, you are seeing very strong growth in ’21 and ’22 as these segments really rebound from virtually being at a standstill,” said Alexia Quadrani, senior media analyst for J.P. Morgan, which was an underwriter of the IPO., about 18 months after the company first sought to tap the public markets for capital.
Quadrani said Endeavor’s bounce has been fueled by optimism around UFC, the MMA giant that is now 100% owned by Endeavor, a transaction done to improve its standing with investors. This time around, the timing of Endeavor’s debut on Wall Street worked in the company’s favor as it coincided with UFC returning to full strength with fans in arenas with its April 25 UFC 261 event in Jacksonville, Fla.
“Over time, as the company continues to de-lever and execute on its financial projections, that will shape the dialogue around it,” Quadrani said. “I think they are well positioned to deliver robust growth in the near-to intermediate term. Further out, visibility becomes less clear.”
Then, they kissed.