BTIG Research Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price target lowered by equities researchers at BTIG Research from $281.00 to $230.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 37.72% from the company’s previous close.

FLUT has been the subject of several other research reports. Truist Financial set a $260.00 price objective on Flutter Entertainment in a report on Tuesday, January 13th. Benchmark reduced their price target on Flutter Entertainment from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, December 1st. HSBC upgraded Flutter Entertainment from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $265.00 to $228.00 in a research report on Monday, November 24th. Canaccord Genuity Group cut their target price on shares of Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Finally, UBS Group decreased their target price on shares of Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating for the company in a research note on Friday, November 28th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $283.24.

Flutter Entertainment Stock Down 0.7%

NYSE:FLUT opened at $167.00 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96. The company’s fifty day moving average price is $206.17 and its 200-day moving average price is $248.40. Flutter Entertainment has a 1-year low of $166.66 and a 1-year high of $313.68. The firm has a market capitalization of $29.26 billion, a P/E ratio of -128.46 and a beta of 1.88.

Institutional Trading of Flutter Entertainment

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