Flutter Entertainment (NYSE:FLUT) Cut to “Hold” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Flutter Entertainment (NYSE:FLUT) from a strong-buy rating to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Several other research analysts also recently commented on FLUT. JMP Securities cut their price target on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a report on Wednesday, October 1st. Canaccord Genuity Group dropped their price objective on Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. Truist Financial set a $260.00 price target on Flutter Entertainment in a report on Tuesday. Finally, Sanford C. Bernstein dropped their price target on Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating for the company in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.35.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $188.77 on Wednesday. The company has a 50 day moving average of $211.22 and a 200 day moving average of $254.57. The stock has a market cap of $33.08 billion, a P/E ratio of -145.21 and a beta of 1.88. Flutter Entertainment has a 12 month low of $187.95 and a 12 month high of $313.68. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in FLUT. Vanguard Group Inc. lifted its stake in Flutter Entertainment by 402.4% in the second quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after purchasing an additional 13,822,673 shares during the last quarter. Parvus Asset Management Jersey Ltd purchased a new position in shares of Flutter Entertainment in the second quarter worth about $2,231,266,000. Norges Bank bought a new stake in shares of Flutter Entertainment in the 2nd quarter valued at about $930,349,000. State Street Corp boosted its holdings in Flutter Entertainment by 120.3% during the 2nd quarter. State Street Corp now owns 3,086,730 shares of the company’s stock valued at $882,064,000 after acquiring an additional 1,685,556 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Flutter Entertainment by 57.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock valued at $877,583,000 after acquiring an additional 1,122,892 shares during the period.

Key Stories Impacting Flutter Entertainment

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: Board strengthening — Flutter added digital and media executive David Kenny to its board, a move investors may view as governance and strategy reinforcement. Flutter Entertainment adds David Kenny to Board of Directors
• Neutral Sentiment: Investor discussion/market chatter — Active threads on the LSE share chat reflect retail focus on volatility and short-term trading around FLTR/FLUT but contain mixed sentiment and no new corporate disclosures. Flutter Entertainment Share Chat (FLTR)
• Neutral Sentiment: Valuation/technical discussion — Commentary asks whether current pricing already reflects recent share weakness and regulatory headlines; this is analytical context rather than a new catalyst. Is Flutter Entertainment (NYSE:FLUT) Pricing Reflect Recent Share Weakness And Regulatory Headlines?
• Negative Sentiment: Analyst downgrade — Wells Fargo cut FLUT from “strong-buy” to “hold,” reducing near-term buy-side support and increasing downside pressure from revisions. Wells Fargo downgrades Flutter Entertainment (FLUT)
• Negative Sentiment: Sector headwinds — Betting stocks fell as NFL prediction-betting and free-to-play app formats gain traction, a trend that could compress revenue and margins for incumbent sportsbook operators like Flutter. Betting Stocks Fall as NFL Prediction Bets Gain on Gambling Apps
• Negative Sentiment: Market reaction explained — Coverage summarizing why FLUT shares are sliding points to the combination of the downgrade, sector competition and regulatory headlines as drivers of today’s sell-off. Why Flutter Entertainment (FLUT) shares are sliding today

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.