Entain (OTCMKTS:GMVHY) Sees Strong Trading Volume – Should You Buy?

Entain Plc (OTCMKTS:GMVHY) shares saw unusually-strong trading volume on Friday. Approximately 137,084 shares traded hands during mid-day trading, an increase of 103% from the previous session’s volume of 67,609 shares. The stock last traded at $5.90 and had previously closed at $5.78.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GMVHY. Zacks Research raised shares of Entain to a “hold” rating in a research report on Wednesday, August 19th. Kepler Capital Markets raised shares of Entain from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Entain presently has an average rating of “Buy”.

Entain Stock Performance

The stock has a 50 day moving average of $6.54 and a 200 day moving average of $7.12.

About Entain

Entain plc is an international sports-betting and gaming company operating primarily through online platforms and retail betting locations. The company offers sports wagering, casino games, poker, bingo and other interactive gaming products through a portfolio of consumer brands.

Its brands have included bwin, Coral, Ladbrokes, PartyPoker and Sportingbet. Entain also operates BetMGM, a sports-betting and iGaming business formed through a joint venture with MGM Resorts International. The company serves customers across multiple regulated markets, including the United Kingdom, Europe, Australia and selected markets in the Americas.

Entain was formerly known as GVC Holdings and adopted the Entain name in 2020 as part of a broader repositioning of the business.