Entain (LON:ENT) Shares Up 0.7% – Should You Buy?

Entain Plc (LON:ENT)’s share price shot up 0.7% on Wednesday . The stock traded as high as GBX 752.95 and last traded at GBX 750.60. 810,245 shares changed hands 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.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ENT. Peel Hunt reaffirmed a “buy” rating and set a GBX 1,100 target price on shares of Entain in a report on Wednesday, October 15th. Berenberg Bank lowered their price objective on Entain from GBX 1,400 to GBX 1,200 and set a “buy” rating for the company in a research report on Thursday, November 27th. Citigroup reduced their target price on Entain from GBX 1,300 to GBX 1,150 and set a “buy” rating on the stock in a report on Thursday, November 27th. Shore Capital reissued a “buy” rating on shares of Entain in a research report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. upgraded shares of Entain to an “overweight” rating and lowered their price target for the stock from GBX 1,150 to GBX 1,090 in a report on Tuesday, December 2nd. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 1,135.

Entain Trading Up 0.7%

The firm has a 50-day moving average of GBX 761.69 and a 200 day moving average of GBX 846.20. The company has a market cap of £4.80 billion, a P/E ratio of -8.74, 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

In related news, insider Ricky Sandler sold 485,188 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of GBX 787, for a total transaction of £3,818,429.56. 7.36% of the stock is owned by 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. 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.