Flutter Entertainment PLC (NYSE:FLUT) Receives $289.81 Average Price Target from Brokerages

Flutter Entertainment PLC (NYSE:FLUT) has earned an average recommendation of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, seventeen have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $277.4762.

Several research analysts have recently commented on the company. Zacks Research lowered Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research note on Monday, January 5th. Morgan Stanley dropped their price objective on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Citizens Jmp cut their target price on shares of Flutter Entertainment from $313.00 to $275.00 and set a “market outperform” rating on the stock in a report on Thursday, January 22nd. Finally, Bank of America lowered their price target on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd.

Institutional Trading of Flutter Entertainment

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

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $162.75 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.27. The stock has a market cap of $28.52 billion, a PE ratio of -125.19 and a beta of 1.89. The company’s fifty day moving average is $204.55 and its 200 day moving average is $245.27. Flutter Entertainment has a 52 week low of $160.72 and a 52 week high of $313.68.

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.