Barclays Cuts GVC (GVC) Price Target to GBX 887

GVC (LON:GVC) had its target price reduced by Barclays from GBX 1,083 ($14.15) to GBX 887 ($11.59) in a report published on Tuesday morning. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also commented on GVC. Canaccord Genuity cut their price target on GVC from GBX 1,250 ($16.33) to GBX 1,200 ($15.68) and set a buy rating on the stock in a research note on Monday, November 19th. Berenberg Bank cut their price objective on GVC from GBX 1,350 ($17.64) to GBX 1,300 ($16.99) and set a buy rating on the stock in a research note on Tuesday, November 20th. Numis Securities raised GVC to a buy rating and set a GBX 1,098 ($14.35) price objective on the stock in a research note on Tuesday, January 8th. Goldman Sachs Group cut their price objective on GVC from GBX 1,150 ($15.03) to GBX 1,100 ($14.37) and set a buy rating on the stock in a research note on Monday, January 14th. Finally, Shore Capital reaffirmed a buy rating on shares of GVC in a research note on Thursday, January 17th. Thirteen research analysts have rated the stock with a buy rating, The company has an average rating of Buy and a consensus price target of GBX 1,134.42 ($14.82).

Shares of GVC stock opened at GBX 544 ($7.11) on Tuesday. GVC has a 12 month low of GBX 705.50 ($9.22) and a 12 month high of GBX 996 ($13.01).

The business also recently disclosed a dividend, which will be paid on Thursday, April 25th. Investors of record on Thursday, March 14th will be paid a GBX 16 ($0.21) dividend. This represents a dividend yield of 2.46%. The ex-dividend date is Thursday, March 14th.

In related news, insider Lee Feldman sold 900,000 shares of GVC stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of GBX 666 ($8.70), for a total value of £5,994,000 ($7,832,222.66).

GVC Company Profile

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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