Entain (LON:ENT) Shares Down 10.4% – What’s Next?

Shares of Entain Plc (LON:ENT) fell 10.4% on Tuesday . The company traded as low as GBX 663.20 ($8.20) and last traded at GBX 665 ($8.22). 78,439,414 shares changed hands during mid-day trading, an increase of 1,574% from the average session volume of 4,686,803 shares. The stock had previously closed at GBX 742.20 ($9.17).

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ENT. Berenberg Bank dropped their target price on Entain from GBX 1,030 ($12.73) to GBX 1,010 ($12.48) and set a “neutral” rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,140 ($14.09) target price on shares of Entain in a 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,079.67 ($13.34).

Entain Stock Down 9.8 %

The stock has a fifty day moving average of GBX 715.82 and a 200 day moving average of GBX 700.87. The firm has a market capitalization of £4.28 billion, a P/E ratio of -1,046.25, 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 current ratio of 0.67 and a quick ratio of 0.74.

Insiders Place Their Bets

In other Entain news, insider Ricky Sandler sold 4,334,882 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of GBX 806 ($9.96), for a total value of £34,939,148.92 ($43,177,396.09). Company insiders own 0.26% of the company’s stock.

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.