Entain (LON:ENT) Trading Up 0.7% – Time to Buy?

Entain Plc (LON:ENT) shares traded up 0.7% during mid-day trading on Wednesday . The company traded as high as GBX 752.95 and last traded at GBX 750.60. 810,245 shares were traded during mid-day trading, a decline of 88% from the average session volume of 6,735,169 shares. The stock had previously closed at GBX 745.20.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Peel Hunt reiterated a “buy” rating and set a GBX 1,100 price target on shares of Entain in a research report on Wednesday, October 15th. Berenberg Bank lowered their target price on Entain from GBX 1,400 to GBX 1,200 and set a “buy” rating on the stock in a report on Thursday, November 27th. Citigroup decreased their price objective on shares of Entain from GBX 1,300 to GBX 1,150 and set a “buy” rating on the stock in a research report on Thursday, November 27th. Shore Capital restated a “buy” rating on shares of Entain in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. raised shares of Entain to an “overweight” rating and reduced their price target for the company from GBX 1,150 to GBX 1,090 in a report on Tuesday, December 2nd. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of GBX 1,135.

Entain Price Performance

The company has a market capitalization of £4.80 billion, a price-to-earnings ratio of -8.74, a PEG 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. The company’s 50 day simple moving average is GBX 763.24 and its 200-day simple moving average is GBX 846.86.

Insider Buying and Selling

In other Entain news, insider Ricky Sandler sold 485,188 shares of Entain stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of GBX 787, for a total value of £3,818,429.56. Insiders own 7.36% 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. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.

The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US.