Entain (LON:ENT) Shares Down 10.4% – Here’s Why

Entain Plc (LON:ENT) shares dropped 10.4% during mid-day trading on Tuesday . The stock traded as low as GBX 663.20 ($8.25) and last traded at GBX 665 ($8.28). Approximately 78,439,414 shares traded hands during trading, an increase of 1,574% from the average daily volume of 4,686,803 shares. The stock had previously closed at GBX 742.20 ($9.24).

Wall Street Analysts Forecast Growth

ENT has been the topic of several research analyst reports. Berenberg Bank lowered their target price on shares of Entain from GBX 1,030 ($12.82) to GBX 1,010 ($12.57) and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,140 ($14.19) price target on shares of Entain in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,079.67 ($13.44).

Entain Stock Up 2.6 %

The company’s fifty day moving average is GBX 710.72 and its 200-day moving average is GBX 701.23. The company has a market capitalization of £4.57 billion, a PE ratio of -1,116.25, a price-to-earnings-growth ratio of 0.92 and a beta of 1.19. The company has a debt-to-equity ratio of 154.96, a quick ratio of 0.74 and a current ratio of 0.67.

Insider Buying and Selling

In other Entain news, insider Ricky Sandler sold 4,334,882 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of GBX 806 ($10.03), for a total value of £34,939,148.92 ($43,489,107.44). 0.26% of the stock is currently owned by insiders.

About Entain

Entain plc (LSE: ENT) is a FTSE100 company and is one of the world’s largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction, STS, SuperSport and TAB NZ; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino.