Flutter Entertainment (NYSE:FLUT) Rating Lowered to Hold at Craig Hallum

Flutter Entertainment (NYSE:FLUT) was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat Ratings reports. They currently have a $200.00 price objective on the stock. Craig Hallum’s price objective would suggest a potential upside of 10.10% from the company’s previous close.

Several other research analysts also recently commented on FLUT. BTIG Research lifted their target price on Flutter Entertainment from $271.00 to $281.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Barclays reduced their price target on Flutter Entertainment from $325.00 to $307.00 and set an “overweight” rating for the company in a research note on Wednesday, December 17th. Morgan Stanley decreased their price objective on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. UBS Group dropped their target price on Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating for the company in a report on Friday, November 28th. Finally, Citizens Jmp boosted their target price on shares of Flutter Entertainment from $311.00 to $313.00 and gave the company a “market outperform” rating in a research report on Monday, January 5th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $293.67.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $181.66 on Wednesday. The company has a market cap of $31.83 billion, a P/E ratio of -139.75 and a beta of 1.88. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96. Flutter Entertainment has a 52-week low of $179.50 and a 52-week high of $313.68. The stock’s 50-day simple moving average is $209.44 and its 200 day simple moving average is $252.88.

Institutional Trading of Flutter Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted its holdings in Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the period. JFS Wealth Advisors LLC acquired a new position in shares of Flutter Entertainment during the third quarter valued at about $27,000. ORG Partners LLC raised its position in shares of Flutter Entertainment by 300.0% during the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the period. Barrett & Company Inc. bought a new stake in Flutter Entertainment during the 2nd quarter valued at $29,000. Finally, JCIC Asset Management Inc. bought a new stake in Flutter Entertainment during the third quarter worth $32,000.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.