Flutter Entertainment PLC (NYSE:FLUT) Short Interest Up 23.2% in December

Flutter Entertainment PLC (NYSE:FLUT) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 8,639,973 shares, an increase of 23.2% from the December 15th total of 7,015,613 shares. Based on an average daily volume of 1,701,890 shares, the days-to-cover ratio is currently 5.1 days. Approximately 4.9% of the company’s stock are sold short. Approximately 4.9% of the company’s stock are sold short. Based on an average daily volume of 1,701,890 shares, the days-to-cover ratio is currently 5.1 days.

Flutter Entertainment Stock Down 2.3%

Shares of FLUT opened at $184.17 on Wednesday. Flutter Entertainment has a 52 week low of $179.50 and a 52 week high of $313.68. The firm has a market capitalization of $32.27 billion, a P/E ratio of -141.67 and a beta of 1.88. The company has a 50-day simple moving average of $209.44 and a 200-day simple moving average of $252.88. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96.

Institutional Trading of Flutter Entertainment

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Flutter Entertainment by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock valued at $4,460,076,000 after buying an additional 301,879 shares during the period. Parvus Asset Management Jersey Ltd bought a new stake in Flutter Entertainment in the second quarter valued at about $2,231,266,000. Wellington Management Group LLP raised its position in Flutter Entertainment by 5.5% in the third quarter. Wellington Management Group LLP now owns 3,519,434 shares of the company’s stock worth $903,694,000 after purchasing an additional 182,594 shares in the last quarter. Capital International Investors lifted its stake in Flutter Entertainment by 4.9% during the third quarter. Capital International Investors now owns 3,256,764 shares of the company’s stock worth $827,841,000 after purchasing an additional 153,390 shares during the period. Finally, Norges Bank bought a new position in Flutter Entertainment during the second quarter worth about $930,349,000.

Analysts Set New Price Targets

Several research firms have commented on FLUT. Wells Fargo & Company reissued an “equal weight” rating and set a $228.00 target price (down from $248.00) on shares of Flutter Entertainment in a research report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Monday, December 29th. Morgan Stanley decreased their target price on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Canaccord Genuity Group dropped their price target on shares of Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, Needham & Company LLC decreased their price objective on shares of Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, November 13th. 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 one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $298.35.

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.