Flutter Entertainment (NYSE:FLUT) Shares Down 10.1% – Time to Sell?

Shares of Flutter Entertainment PLC (NYSE:FLUT) dropped 10.1% on Friday . The stock traded as low as $128.57 and last traded at $127.0470. Approximately 2,041,205 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 3,589,366 shares. The stock had previously closed at $141.37.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Benchmark decreased their price objective on shares of Flutter Entertainment from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, December 1st. Needham & Company LLC reduced their price target on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Stifel Nicolaus lowered their price objective on Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating for the company in a research note on Friday, January 30th. UBS Group cut their target price on Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research report on Monday, January 5th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.48.

Flutter Entertainment Stock Down 12.3%

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 stock’s fifty day simple moving average is $195.77 and its two-hundred day simple moving average is $237.55. The company has a market capitalization of $21.73 billion, a price-to-earnings ratio of -95.04 and a beta of 1.88.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $0.39 by $1.25. Flutter Entertainment had a negative net margin of 0.95% and a positive return on equity of 14.42%. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Institutional Trading of Flutter Entertainment

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Flutter Entertainment by 1.7% during the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock valued at $4,460,076,000 after purchasing an additional 301,879 shares in the last quarter. Capital International Investors boosted its stake in shares of Flutter Entertainment by 146.8% during the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after buying an additional 4,782,302 shares during the period. Parvus Asset Management Jersey Ltd purchased a new position in shares of Flutter Entertainment during the 2nd quarter valued at $2,231,266,000. Cibc World Markets Corp acquired a new position in shares of Flutter Entertainment in the fourth quarter worth $1,678,841,000. Finally, Wellington Management Group LLP raised its holdings in shares of Flutter Entertainment by 5.5% during the third quarter. Wellington Management Group LLP now owns 3,519,434 shares of the company’s stock worth $903,694,000 after acquiring an additional 182,594 shares in the last quarter.

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.