Entain (LON:ENT) Shares Down 10% - Here's Why

Entain Plc (LON:ENT - Get Free Report) shares traded down 10% on Tuesday . The company traded as low as GBX 653.80 ($8.22) and last traded at GBX 668.20 ($8.40). 80,156,039 shares changed 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 ($9.33).

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Berenberg Bank lowered their price objective on Entain from GBX 1,030 ($12.94) to GBX 1,010 ($12.69) and set a "neutral" rating on the stock in a report on Thursday, November 7th. Jefferies Financial Group reissued a "buy" rating and set a GBX 1,140 ($14.33) price target on shares of Entain in a research note 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's stock. According to data from MarketBeat, Entain presently has an average rating of "Moderate Buy" and an average price target of GBX 1,079.67 ($13.57).

Entain Price Performance

The company has a 50 day moving average price of GBX 708.41 and a 200 day moving average price of GBX 701.63. The firm has a market cap of £4.78 billion, a PE ratio of -10.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.19. The company has a current ratio of 0.82, a quick ratio of 0.74 and a debt-to-equity ratio of 188.61.

Insider Activity at Entain

In related 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 ($10.13), for a total value of £34,939,148.92 ($43,909,952.14). 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.