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

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

Wall Street Analyst Weigh In

ENT has been the subject of several research reports. Berenberg Bank reduced their price objective on Entain from GBX 1,030 ($12.83) to GBX 1,010 ($12.58) and set a “neutral” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,140 ($14.19) price objective on shares of Entain in a research note 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,079.67 ($13.44).

Entain Stock Performance

The company has a fifty day moving average price of GBX 712.90 and a two-hundred day moving average price of GBX 700.87. 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 company has a market capitalization of £4.33 billion, a P/E ratio of -1,057.50, a PEG ratio of 0.92 and a beta of 1.19.

Insiders Place Their Bets

In other news, insider Ricky Sandler sold 4,334,882 shares of the company’s stock in a transaction on 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). Insiders own 0.26% of the company’s stock.

Entain Company Profile

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.