Flutter Entertainment (NYSE:FLUT) Cut to “Hold” at Wells Fargo & Company

Flutter Entertainment (NYSE:FLUT) was downgraded by stock analysts at Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts also recently commented on the company. HSBC upgraded Flutter Entertainment from a “hold” rating to a “buy” rating and lowered their target price for the company from $265.00 to $228.00 in a research note on Monday, November 24th. Texas Capital upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, January 8th. BTIG Research upped their price objective 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. Bank of America reiterated a “neutral” rating and issued a $250.00 target price (down previously from $325.00) on shares of Flutter Entertainment in a research note on Tuesday, November 4th. Finally, Zacks Research upgraded Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, December 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $298.35.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $201.00 on Wednesday. The company’s 50 day moving average price is $211.91 and its 200 day moving average price is $255.24. The company has a market capitalization of $35.22 billion, a PE ratio of -154.62 and a beta of 1.88. Flutter Entertainment has a 52 week low of $189.33 and a 52 week high of $313.68. 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 Investors Weigh In On Flutter Entertainment

Several large investors have recently made changes to their positions in the company. ORG Partners LLC boosted its stake in Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 43 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Flutter Entertainment by 0.6% in the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after acquiring an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Flutter Entertainment by 1.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock valued at $1,030,000 after acquiring an additional 49 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Flutter Entertainment by 5.6% in the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after acquiring an additional 50 shares during the period. Finally, Stratos Wealth Partners LTD. increased its stake in Flutter Entertainment by 5.7% in the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock valued at $273,000 after purchasing an additional 58 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.