Flutter Entertainment (NYSE:FLUT) Lowered to “Strong Sell” Rating by Zacks Research

Flutter Entertainment (NYSE:FLUT) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on FLUT. Texas Capital upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, January 8th. JMP Securities lowered their target price on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a report on Wednesday, October 1st. Barclays dropped their target price on shares of Flutter Entertainment from $325.00 to $307.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Stifel Nicolaus reduced their price target on Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $228.00 price objective (down previously from $248.00) on shares of Flutter Entertainment in a report on Wednesday, January 14th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $298.35.

Flutter Entertainment Trading Down 2.3%

Shares of FLUT opened at $184.17 on Monday. The stock’s fifty day simple moving average is $209.44 and its 200-day simple moving average is $252.88. 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 firm has a market capitalization of $32.27 billion, a PE ratio of -141.67 and a beta of 1.88. Flutter Entertainment has a 12-month low of $179.50 and a 12-month high of $313.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. JFS Wealth Advisors LLC acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at approximately $27,000. ORG Partners LLC increased its stake in Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Barrett & Company Inc. acquired a new stake in Flutter Entertainment during the 2nd quarter worth approximately $29,000. Finally, JCIC Asset Management Inc. acquired a new stake in Flutter Entertainment during the 3rd quarter worth approximately $32,000.

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.