BTIG Research Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $230.00

Flutter Entertainment (NYSE:FLUT) had its price target reduced by BTIG Research from $281.00 to $230.00 in a report released on Tuesday, Marketbeat.com reports. BTIG Research currently has a buy rating on the stock.

FLUT has been the topic of several other research reports. Craig Hallum lowered Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research note on Wednesday, January 21st. UBS Group cut their price objective on Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating for the company in a report on Friday, November 28th. Hsbc Global Res upgraded shares of Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. JMP Securities dropped 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 research report on Wednesday, October 1st. Finally, Benchmark cut their price target on shares of Flutter Entertainment from $310.00 to $285.00 and set a “buy” rating for the company in a report on Monday, December 1st. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $280.86.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $168.77 on Tuesday. 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 company has a 50-day moving average of $205.69 and a 200-day moving average of $247.85. Flutter Entertainment has a 52 week low of $166.21 and a 52 week high of $313.68. The company has a market capitalization of $29.57 billion, a price-to-earnings ratio of -129.83 and a beta of 1.88.

Hedge Funds Weigh In On Flutter Entertainment

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Flutter Entertainment during the 2nd quarter worth $405,000. Wealth Enhancement Advisory Services LLC bought a new position in Flutter Entertainment in the 2nd quarter valued at $621,000. Farther Finance Advisors LLC increased its stake in shares of Flutter Entertainment by 65.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 302 shares of the company’s stock valued at $86,000 after buying an additional 119 shares during the period. Finally, Park Avenue Securities LLC raised its position in shares of Flutter Entertainment by 16.4% during the second quarter. Park Avenue Securities LLC now owns 1,284 shares of the company’s stock worth $367,000 after acquiring an additional 181 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.