Shares of GVC Holdings PLC (LON:GVC) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as GBX 729 ($9.53) and last traded at GBX 729 ($9.53), with a volume of 2298289 shares changing hands. The stock had previously closed at GBX 777 ($10.15).
GVC has been the topic of several recent research reports. Barclays reduced their price objective on GVC from GBX 1,210 ($15.81) to GBX 1,187 ($15.51) and set an “overweight” rating on the stock in a research report on Monday, September 17th. Morgan Stanley initiated coverage on GVC in a research note on Wednesday, August 29th. They issued an “overweight” rating and a GBX 1,330 ($17.38) target price for the company. HSBC upped their target price on GVC from GBX 1,135 ($14.83) to GBX 1,285 ($16.79) and gave the company a “buy” rating in a research note on Wednesday, October 17th. Credit Suisse Group upgraded GVC to an “outperform” rating in a research note on Tuesday, October 23rd. Finally, Shore Capital reiterated a “buy” rating on shares of GVC in a research note on Thursday, September 13th. Thirteen analysts have rated the stock with a buy rating, GVC presently has an average rating of “Buy” and a consensus target price of GBX 1,206.17 ($15.76).
In other news, insider Jane Anscombe purchased 3,763 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was bought at an average cost of GBX 930 ($12.15) per share, for a total transaction of £34,995.90 ($45,728.34). Also, insider Lee Feldman sold 732,382 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of GBX 954 ($12.47), for a total value of £6,986,924.28 ($9,129,654.10).
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GVC Company Profile (LON:GVC)
GVC Holdings PLC, together with its subsidiaries, operates as an online gaming company in Germany, the United Kingdom, rest of Europe, and internationally. It operates through Sports Labels, Games Labels, B2B, and Non-Core segments. The company provides online betting, casino, poker, and bingo services through mobile and web under the Bwin brand; sports betting, casinos, games, and poker through online and mobile under the Sportingbet brand; and online bingo, sportsbook, casino, and poker access under the Betboo brand, as well as operates an online casino Website for German-speaking markets under the CasinoClub brand.
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