Entain (LON:ENT) Stock Price Down 11.1% – Here’s What Happened

Shares of Entain Plc (LON:ENT) traded down 11.1% during trading on Tuesday . The company traded as low as GBX 653 ($8.13) and last traded at GBX 660 ($8.22). 7,332,096 shares changed hands during trading, an increase of 228% from the average session volume of 2,234,826 shares. The stock had previously closed at GBX 742.20 ($9.24).

Analyst Ratings Changes

ENT has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a GBX 1,140 ($14.19) price target on shares of Entain in a research note on Monday, December 16th. Berenberg Bank cut their target price on Entain from GBX 1,030 ($12.83) to GBX 1,010 ($12.58) and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,079.67 ($13.44).

Entain Trading Down 11.1 %

The firm’s 50 day simple moving average is GBX 715.82 and its 200-day simple moving average is GBX 700.87. The company has a quick ratio of 0.74, a current ratio of 0.67 and a debt-to-equity ratio of 154.96. The company has a market capitalization of £4.22 billion, a PE ratio of -1,031.25, a P/E/G ratio of 0.92 and a beta of 1.19.

Insiders Place Their Bets

In related news, insider Ricky Sandler sold 4,334,882 shares of Entain stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of GBX 806 ($10.04), for a total value of £34,939,148.92 ($43,505,352.91). 0.26% of the stock is currently 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.