Flutter Entertainment PLC (NYSE:FLUT) Receives $289.81 Consensus PT from Brokerages

Flutter Entertainment PLC (NYSE:FLUT) has been given an average rating of “Moderate Buy” by the twenty-seven brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $280.8571.

A number of analysts recently commented on FLUT shares. Canaccord Genuity Group decreased their price target on Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Zacks Research lowered Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Texas Capital raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. Wells Fargo & Company restated an “equal weight” rating and set a $228.00 price objective (down previously from $248.00) on shares of Flutter Entertainment in a report on Wednesday, January 14th. Finally, Sanford C. Bernstein lowered their price objective on shares of Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating on the stock in a research report on Thursday, January 15th.

Flutter Entertainment Trading Up 1.2%

NYSE:FLUT opened at $168.77 on Tuesday. Flutter Entertainment has a 52 week low of $166.21 and a 52 week high of $313.68. The firm has a 50-day moving average price of $205.69 and a two-hundred day moving average price of $247.85. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $29.57 billion, a price-to-earnings ratio of -129.83 and a beta of 1.88.

Institutional Investors Weigh In On Flutter Entertainment

Large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in shares of Flutter Entertainment during the third quarter worth about $169,777,000. Bank of New York Mellon Corp raised its position in Flutter Entertainment by 120.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock valued at $129,924,000 after purchasing an additional 248,109 shares during the last quarter. Parvus Asset Management Jersey Ltd purchased a new stake in Flutter Entertainment in the 2nd quarter worth approximately $2,231,266,000. Massachusetts Financial Services Co. MA grew its position in shares of Flutter Entertainment by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,864,681 shares of the company’s stock worth $727,629,000 after buying an additional 68,186 shares during the last quarter. Finally, Gunderson Capital Management Inc. grew its position in shares of Flutter Entertainment by 17.8% in the 2nd quarter. Gunderson Capital Management Inc. now owns 15,646 shares of the company’s stock worth $4,471,000 after buying an additional 2,364 shares during the last quarter.

About Flutter Entertainment

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.