Flutter Entertainment (NYSE:FLUT) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Flutter Entertainment (NYSE:FLUT) from a hold rating to a strong sell rating in a report published on Monday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Texas Capital raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, January 8th. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research report on Monday, January 5th. Bank of America reaffirmed a “neutral” rating and set a $250.00 price objective (down previously from $325.00) on shares of Flutter Entertainment in a research report on Tuesday, November 4th. UBS Group dropped their target price on Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Finally, Stifel Nicolaus reduced their price target on Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment has an average rating of “Moderate Buy” and a consensus target price of $293.67.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $181.14 on Monday. Flutter Entertainment has a 12 month low of $179.37 and a 12 month high of $313.68. The firm has a market capitalization of $31.74 billion, a P/E ratio of -139.34 and a beta of 1.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27. The business has a fifty day simple moving average of $208.38 and a two-hundred day simple moving average of $252.38.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Flutter Entertainment by 1.7% in the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock worth $4,460,076,000 after buying an additional 301,879 shares during the last quarter. Parvus Asset Management Jersey Ltd purchased a new position in shares of Flutter Entertainment during the 2nd quarter worth $2,231,266,000. Wellington Management Group LLP grew its position in shares of Flutter Entertainment by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,519,434 shares of the company’s stock valued at $903,694,000 after acquiring an additional 182,594 shares during the period. Capital International Investors increased its stake in shares of Flutter Entertainment by 4.9% in the 3rd quarter. Capital International Investors now owns 3,256,764 shares of the company’s stock worth $827,841,000 after purchasing an additional 153,390 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Flutter Entertainment in the 2nd quarter worth $930,349,000.

Flutter Entertainment Company Profile

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.