Short Interest in Flutter Entertainment PLC (NYSE:FLUT) Expands By 24.4%

Flutter Entertainment PLC (NYSE:FLUT) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 12,469,256 shares, a growth of 24.4% from the January 29th total of 10,025,092 shares. Based on an average daily volume of 5,448,337 shares, the short-interest ratio is currently 2.3 days. Currently, 7.1% of the shares of the company are short sold. Currently, 7.1% of the shares of the company are short sold. Based on an average daily volume of 5,448,337 shares, the short-interest ratio is currently 2.3 days.

Analysts Set New Price Targets

Several analysts have issued reports on FLUT shares. Bank of America dropped their price objective on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Benchmark dropped their price target on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Oppenheimer cut their price target on Flutter Entertainment from $280.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Barclays decreased their price objective on shares of Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Finally, Susquehanna restated a “positive” rating and set a $228.00 target price on shares of Flutter Entertainment in a research note on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $234.65.

Flutter Entertainment Stock Up 1.2%

FLUT opened at $112.70 on Thursday. The stock has a fifty day moving average of $167.65 and a 200-day moving average of $219.52. The company has a market capitalization of $19.76 billion, a P/E ratio of -62.61, a P/E/G ratio of 0.51 and a beta of 2.30. Flutter Entertainment has a fifty-two week low of $99.96 and a fifty-two week high of $313.68. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the company posted $2.94 earnings per share. The company’s revenue was up 24.9% on a year-over-year basis. On average, equities analysts expect that Flutter Entertainment will post 4.17 EPS for the current year.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in FLUT. MassMutual Private Wealth & Trust FSB grew its position in Flutter Entertainment by 219.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. JFS Wealth Advisors LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth $27,000. Zions Bancorporation National Association UT increased its position in shares of Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the period. JCIC Asset Management Inc. acquired a new position in Flutter Entertainment in the third quarter valued at about $32,000. Finally, Atlantic Union Bankshares Corp acquired a new position in Flutter Entertainment in the third quarter valued at about $34,000.

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.