Flutter Entertainment PLC (NYSE:FLUT) Receives Average Rating of “Moderate Buy” from Brokerages

Flutter Entertainment PLC (NYSE:FLUT) has received a consensus recommendation of “Moderate Buy” from the twenty-five brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, seventeen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $302.45.

A number of equities research analysts recently commented on FLUT shares. BTIG Research increased their target price on shares of Flutter Entertainment from $271.00 to $281.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Flutter Entertainment in a report on Thursday, December 11th. Stifel Nicolaus lowered their price objective on Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. HSBC upgraded Flutter Entertainment from a “hold” rating to a “buy” rating and dropped their target price for the stock from $265.00 to $228.00 in a research note on Monday, November 24th. Finally, Bank of America reiterated a “neutral” rating and issued a $250.00 price target (down from $325.00) on shares of Flutter Entertainment in a research note on Tuesday, November 4th.

Flutter Entertainment Stock Performance

FLUT stock opened at $215.46 on Friday. Flutter Entertainment has a one year low of $189.33 and a one year high of $313.68. The firm has a market cap of $37.74 billion, a price-to-earnings ratio of -165.74 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. The firm has a 50-day simple moving average of $215.89 and a two-hundred day simple moving average of $259.42.

Institutional Trading of Flutter Entertainment

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Flutter Entertainment by 402.4% in the second quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after buying an additional 13,822,673 shares during the last quarter. Parvus Asset Management Jersey Ltd acquired a new position in shares of Flutter Entertainment in the 2nd quarter valued at $2,231,266,000. Norges Bank purchased a new position in Flutter Entertainment in the 2nd quarter worth $930,349,000. State Street Corp lifted its position in Flutter Entertainment by 120.3% during the 2nd quarter. State Street Corp now owns 3,086,730 shares of the company’s stock worth $882,064,000 after acquiring an additional 1,685,556 shares during the period. Finally, Geode Capital Management LLC grew its stake in Flutter Entertainment by 57.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock valued at $877,583,000 after purchasing an additional 1,122,892 shares during 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.