Short Interest in Flutter Entertainment plc (NYSE:FLUT) Decreases By 14.0%

Flutter Entertainment plc (NYSE:FLUT) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 3,330,000 shares, a decrease of 14.0% from the December 15th total of 3,870,000 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is presently 2.1 days.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds have recently bought and sold shares of FLUT. Raleigh Capital Management Inc. bought a new position in Flutter Entertainment during the 4th quarter valued at $26,000. Atomi Financial Group Inc. lifted its position in shares of Flutter Entertainment by 31.1% during the fourth quarter. Atomi Financial Group Inc. now owns 1,399 shares of the company’s stock worth $362,000 after purchasing an additional 332 shares during the last quarter. Harbor Investment Advisory LLC grew its stake in Flutter Entertainment by 64.1% in the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock worth $33,000 after purchasing an additional 50 shares in the last quarter. UMB Bank n.a. raised its stake in Flutter Entertainment by 58.8% during the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after buying an additional 50 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its holdings in Flutter Entertainment by 9.2% during the 4th quarter. Artemis Investment Management LLP now owns 536,716 shares of the company’s stock worth $139,004,000 after buying an additional 45,087 shares during the last quarter.

Flutter Entertainment Stock Up 2.1 %

FLUT stock traded up $5.47 during trading on Friday, reaching $263.03. The stock had a trading volume of 1,200,603 shares, compared to its average volume of 1,033,112. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a fifty day moving average price of $265.79 and a 200 day moving average price of $233.16. Flutter Entertainment has a 1-year low of $174.03 and a 1-year high of $284.79.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FLUT has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price target on shares of Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group assumed coverage on Flutter Entertainment in a report on Friday, November 22nd. They issued a “buy” rating and a $320.00 target price on the stock. Susquehanna dropped their price target on Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Bank of America initiated coverage on Flutter Entertainment in a research note on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective on the stock. Finally, Barclays increased their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Seventeen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $304.44.

About Flutter Entertainment

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.