Flutter Entertainment (NYSE:FLUT) Price Target Cut to $210.00 by Analysts at Oppenheimer

Flutter Entertainment (NYSE:FLUT) had its price target dropped by Oppenheimer from $280.00 to $210.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 74.06% from the stock’s current price.

Several other analysts have also recently issued reports on FLUT. Stifel Nicolaus lowered their target price on shares of Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Zacks Research lowered Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. BTIG Research reduced their target price on Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. HSBC raised Flutter Entertainment from a “hold” rating to a “buy” rating and lowered their price target for the company from $265.00 to $228.00 in a report on Monday, November 24th. Finally, Susquehanna reissued a “positive” rating and set a $228.00 price objective on shares of Flutter Entertainment in a report on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $265.60.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock traded up $0.81 on Thursday, reaching $120.65. The stock had a trading volume of 2,067,378 shares, compared to its average volume of 3,849,280. The business’s 50 day moving average is $178.58 and its two-hundred day moving average is $225.75. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27. Flutter Entertainment has a 1 year low of $114.74 and a 1 year high of $313.68. The company has a market cap of $21.14 billion, a P/E ratio of -92.96, a price-to-earnings-growth ratio of 0.24 and a beta of 1.88.

Institutional Trading of Flutter Entertainment

Hedge funds have recently added to or reduced their stakes in the business. Makena Capital Management LLC purchased a new position in shares of Flutter Entertainment in the third quarter valued at about $11,517,000. TimesSquare Capital Management LLC grew its stake in shares of Flutter Entertainment by 294.1% in the third quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock worth $96,235,000 after purchasing an additional 282,736 shares during the last quarter. AGF Management Ltd. bought a new stake in shares of Flutter Entertainment in the third quarter worth about $9,519,000. Federated Hermes Inc. purchased a new position in Flutter Entertainment during the 3rd quarter valued at about $169,777,000. Finally, Mutual of America Capital Management LLC bought a new position in Flutter Entertainment during the 3rd quarter valued at approximately $2,173,000.

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.