Flutter Entertainment plc (NYSE:FLUT) Receives Average Rating of “Buy” from Analysts

Flutter Entertainment plc (NYSE:FLUT) has earned an average rating of “Buy” from the twenty analysts that are presently covering the company, Marketbeat Ratings reports. Nineteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $311.41.

A number of equities analysts recently weighed in on FLUT shares. Peel Hunt raised shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Benchmark raised their price target on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. JMP Securities lifted their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a report on Monday, January 6th. Stifel Nicolaus initiated coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They set a “buy” rating and a $320.00 target price for the company. Finally, UBS Group lifted their price target on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, March 6th.

Flutter Entertainment Price Performance

NYSE FLUT opened at $237.19 on Friday. 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 stock has a market cap of $42.09 billion and a price-to-earnings ratio of 1,078.13. The business has a 50 day simple moving average of $264.74 and a 200 day simple moving average of $251.84. Flutter Entertainment has a 52-week low of $174.03 and a 52-week high of $299.73.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its stake in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Flutter Entertainment in the fourth quarter worth $25,000. Raleigh Capital Management Inc. acquired a new stake in Flutter Entertainment during the fourth quarter worth about $26,000. BOCHK Asset Management Ltd bought a new position in Flutter Entertainment in the 4th quarter valued at about $26,000. Finally, IFP Advisors Inc lifted its holdings in shares of Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after acquiring an additional 83 shares during the period.

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.