Flutter Entertainment (NYSE:FLUT) Sees Unusually-High Trading Volume

Flutter Entertainment plc (NYSE:FLUT) saw strong trading volume on Friday . 262,250 shares changed hands during mid-day trading, an increase of 61% from the previous session’s volume of 162,395 shares.The stock last traded at $197.43 and had previously closed at $191.58.

Analysts Set New Price Targets

Several brokerages have recently commented on FLUT. JMP Securities reiterated a “market outperform” rating on shares of Flutter Entertainment in a report on Monday, April 1st. JPMorgan Chase & Co. upgraded Flutter Entertainment from a “neutral” rating to an “overweight” rating in a research note on Wednesday, March 13th. Wells Fargo & Company began coverage on shares of Flutter Entertainment in a research note on Thursday, April 4th. They issued an “equal weight” rating for the company. Finally, Barclays upgraded shares of Flutter Entertainment from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17,656.67.

Flutter Entertainment Trading Up 2.5 %

The business’s 50-day moving average is $202.78 and its 200-day moving average is $131.99.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Flutter Entertainment during the 1st quarter worth approximately $70,371,000. Artemis Investment Management LLP purchased a new position in Flutter Entertainment in the first quarter valued at $29,611,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Flutter Entertainment during the 1st quarter worth about $19,345,000. Retirement Systems of Alabama acquired a new stake in shares of Flutter Entertainment during the 1st quarter valued at about $9,024,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Flutter Entertainment in the 1st quarter worth about $7,319,000. 0.01% of the stock is currently owned by hedge funds and other institutional investors.

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.