Entain (LON:ENT) Trading Down 10% – Here’s What Happened

Shares of Entain Plc (LON:ENT) fell 10% during mid-day trading on Tuesday . The company traded as low as GBX 653.80 ($8.14) and last traded at GBX 668.20 ($8.32). 80,156,039 shares traded hands during mid-day trading, an increase of 1,589% from the average session volume of 4,745,997 shares. The stock had previously closed at GBX 742.20 ($9.24).

Wall Street Analysts Forecast Growth

ENT has been the subject of a number of 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 for the company in a report on Thursday, November 7th. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,140 ($14.19) price target on shares of Entain in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,079.67 ($13.44).

Entain Price Performance

The company’s 50 day simple moving average is GBX 710.72 and its 200 day simple moving average is GBX 701.23. The company has a debt-to-equity ratio of 154.96, a current ratio of 0.67 and a quick ratio of 0.74. The stock has a market cap of £4.55 billion, a P/E ratio of -1,111.56, a P/E/G ratio of 0.92 and a beta of 1.19.

Insider Activity at Entain

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