Flutter Entertainment plc (NYSE:FLUT) Given Average Rating of “Buy” by Brokerages

Flutter Entertainment plc (NYSE:FLUT) has received a consensus rating of “Buy” from the twenty research firms that are currently covering the stock, MarketBeat reports. Nineteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $311.41.

Several brokerages recently weighed in on FLUT. JMP Securities raised their target price on Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research note on Monday, January 6th. Needham & Company LLC boosted their target price on shares of Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. BTIG Research set a $323.00 price target on shares of Flutter Entertainment in a research report on Monday, February 3rd. Finally, Benchmark increased their price objective on Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th.

Flutter Entertainment Stock Performance

FLUT opened at $205.81 on Wednesday. The business has a 50 day moving average price of $256.42 and a two-hundred day moving average price of $253.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $36.53 billion and a price-to-earnings ratio of 935.50. Flutter Entertainment has a 1-year low of $174.03 and a 1-year high of $299.73.

Insider Buying and Selling at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. The trade was a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors lifted its holdings in Flutter Entertainment by 11.9% in the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company’s stock worth $3,986,968,000 after purchasing an additional 1,635,241 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Flutter Entertainment by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock valued at $2,479,812,000 after purchasing an additional 299,300 shares during the period. Parvus Asset Management Europe Ltd acquired a new stake in shares of Flutter Entertainment in the fourth quarter worth $2,146,227,000. Norges Bank bought a new stake in shares of Flutter Entertainment during the 4th quarter worth $946,681,000. Finally, FMR LLC grew its stake in Flutter Entertainment by 0.8% in the 4th quarter. FMR LLC now owns 3,401,092 shares of the company’s stock valued at $881,349,000 after buying an additional 25,422 shares during the last quarter.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.