Flutter Entertainment Sees Unusually High Options Volume (NYSE:FLUT)

Flutter Entertainment PLC (NYSE:FLUT) was the target of unusually large options trading activity on Monday. Traders bought 6,019 call options on the company. This is an increase of approximately 98% compared to the average daily volume of 3,041 call options.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $174.90 on Tuesday. The business has a 50-day simple moving average of $207.20 and a two-hundred day simple moving average of $249.83. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.27. Flutter Entertainment has a 52 week low of $171.96 and a 52 week high of $313.68. The stock has a market cap of $30.65 billion, a price-to-earnings ratio of -134.54 and a beta of 1.88.

Hedge Funds Weigh In On Flutter Entertainment

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. Parvus Asset Management Jersey Ltd bought a new position in Flutter Entertainment in the 2nd quarter worth $2,231,266,000. Norges Bank bought a new position in Flutter Entertainment in the 2nd quarter worth $930,349,000. State Street Corp increased its stake in Flutter Entertainment by 120.3% in the 2nd quarter. State Street Corp now owns 3,086,730 shares of the company’s stock worth $882,064,000 after buying an additional 1,685,556 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Flutter Entertainment by 57.4% during the second 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.

Analyst Ratings Changes

FLUT has been the topic of several research analyst reports. Hsbc Global Res raised Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Sanford C. Bernstein reduced their price objective on Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating for the company in a research report on Thursday, January 15th. Benchmark lowered their target price on Flutter Entertainment from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, December 1st. Needham & Company LLC dropped their target price on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Finally, HSBC raised shares of Flutter Entertainment from a “hold” rating to a “buy” rating and reduced their price target for the company from $265.00 to $228.00 in a research report on Monday, November 24th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $289.81.

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.