Flutter Entertainment (NYSE:FLUT) Downgraded to “Hold” Rating by Craig Hallum

Craig Hallum downgraded shares of Flutter Entertainment (NYSE:FLUT) from a buy rating to a hold rating in a research note published on Wednesday, MarketBeat.com reports. They currently have $200.00 target price on the stock.

Other analysts have also issued research reports about the company. Truist Financial set a $260.00 target price on Flutter Entertainment in a report on Tuesday, January 13th. Citizens Jmp boosted their price objective on shares of Flutter Entertainment from $311.00 to $313.00 and gave the stock a “market outperform” rating in a research report on Monday, January 5th. Barclays lowered their price objective on shares of Flutter Entertainment from $325.00 to $307.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Canaccord Genuity Group dropped their target price on shares of Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Finally, Sanford C. Bernstein reduced their price target on shares of Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $293.67.

Flutter Entertainment Price Performance

FLUT stock opened at $181.14 on Wednesday. The firm has a 50 day moving average of $208.38 and a 200-day moving average of $252.38. The company has a market cap of $31.74 billion, a price-to-earnings 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. Flutter Entertainment has a 12-month low of $179.37 and a 12-month high of $313.68.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of FLUT. Bank of New York Mellon Corp grew its stake in shares of Flutter Entertainment by 120.1% during the second quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock valued at $129,924,000 after acquiring an additional 248,109 shares in the last quarter. Parvus Asset Management Jersey Ltd purchased a new position in Flutter Entertainment in the second quarter valued at about $2,231,266,000. Massachusetts Financial Services Co. MA boosted its holdings in Flutter Entertainment by 2.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,864,681 shares of the company’s stock valued at $727,629,000 after purchasing an additional 68,186 shares during the last quarter. Gunderson Capital Management Inc. grew its stake in Flutter Entertainment by 17.8% during the 2nd quarter. Gunderson Capital Management Inc. now owns 15,646 shares of the company’s stock valued at $4,471,000 after purchasing an additional 2,364 shares in the last quarter. Finally, Corton Capital Inc. purchased a new stake in Flutter Entertainment during the 2nd quarter worth approximately $556,000.

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.