Flutter Entertainment plc (NYSE:FLUT – Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,110,000 shares, an increase of 11.1% from the August 15th total of 1,900,000 shares. Based on an average daily trading volume, of 1,600,000 shares, the short-interest ratio is currently 1.3 days. Approximately 1.2% of the shares of the company are short sold.
Hedge Funds Weigh In On Flutter Entertainment
Hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new position in shares of Flutter Entertainment in the first quarter worth approximately $28,000. Assenagon Asset Management S.A. grew its position in Flutter Entertainment by 3.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock worth $1,053,000 after purchasing an additional 170 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC purchased a new stake in shares of Flutter Entertainment in the second quarter valued at $40,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Flutter Entertainment in the first quarter worth $45,000.
Flutter Entertainment Stock Performance
Shares of FLUT traded down $0.34 during mid-day trading on Wednesday, hitting $230.21. The company’s stock had a trading volume of 1,041,589 shares, compared to its average volume of 894,482. The firm has a 50-day moving average price of $204.55 and a 200 day moving average price of $199.99. Flutter Entertainment has a fifty-two week low of $148.00 and a fifty-two week high of $232.05.
Wall Street Analysts Forecast Growth
FLUT has been the topic of several recent analyst reports. Oppenheimer lifted their target price on Flutter Entertainment from $240.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. JMP Securities restated a “market outperform” rating and set a $255.00 price objective on shares of Flutter Entertainment in a research note on Wednesday. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Berenberg Bank upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, BTIG Research upped their price target on shares of Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $246.44.
Check Out Our Latest Stock Analysis on FLUT
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.
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