Flutter Entertainment (NYSE:FLUT) Reaches New 52-Week Low – Time to Sell?

Shares of Flutter Entertainment PLC (NYSE:FLUT) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $147.66 and last traded at $146.8060, with a volume of 388818 shares traded. The stock had previously closed at $151.63.

Analysts Set New Price Targets

FLUT has been the subject of a number of research reports. Needham & Company LLC lowered their target price on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Susquehanna reiterated a “positive” rating and set a $228.00 price objective on shares of Flutter Entertainment in a report on Tuesday, January 27th. Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research note on Wednesday, January 21st. UBS Group reduced their price target on Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, HSBC upgraded shares of Flutter Entertainment from a “hold” rating to a “buy” rating and lowered their price objective for the company from $265.00 to $228.00 in a report on Monday, November 24th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Flutter Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $272.48.

Flutter Entertainment Stock Down 11.4%

The firm has a market capitalization of $21.94 billion, a P/E ratio of -96.33 and a beta of 1.88. The firm’s 50 day moving average is $195.77 and its two-hundred day moving average is $237.55. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $1.25. The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Flutter Entertainment had a negative net margin of 0.95% and a positive return on equity of 14.42%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 earnings per share. Research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors have recently bought and sold shares of FLUT. MassMutual Private Wealth & Trust FSB lifted its position 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 valued at $25,000 after buying an additional 79 shares during the last quarter. JFS Wealth Advisors LLC acquired a new stake in Flutter Entertainment during the 3rd quarter valued at $27,000. Zions Bancorporation National Association UT lifted its holdings in Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the last quarter. JCIC Asset Management Inc. bought a new position in Flutter Entertainment during the third quarter worth $32,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Flutter Entertainment in the third quarter valued at $34,000.

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.