Flutter Entertainment PLC (NYSE:FLUT) Given Consensus Rating of “Moderate Buy” by Brokerages

Flutter Entertainment PLC (NYSE:FLUT) has been given a consensus rating of “Moderate Buy” by the twenty-five ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $269.10.

A number of analysts recently commented on the stock. BTIG Research lowered their price objective on shares of Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating for the company in a research report on Tuesday, January 27th. Citizens Jmp lowered their price target on Flutter Entertainment from $313.00 to $275.00 and set a “market outperform” rating for the company in a report on Thursday, January 22nd. Canaccord Genuity Group cut their price objective on Flutter Entertainment from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Tuesday, February 3rd. Benchmark decreased their price objective on Flutter Entertainment from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, December 1st. Finally, Barclays dropped their target price on shares of Flutter Entertainment from $307.00 to $304.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd.

Flutter Entertainment Stock Down 0.9%

Flutter Entertainment stock opened at $121.07 on Friday. The firm has a market capitalization of $21.21 billion, a price-to-earnings ratio of -93.13 and a beta of 1.88. The company’s 50 day simple moving average is $184.65 and its 200 day simple moving average is $230.07. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96. Flutter Entertainment has a fifty-two week low of $119.47 and a fifty-two week high of $313.68.

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. Vanguard Group Inc. boosted its position in shares of Flutter Entertainment by 402.4% during the second quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after buying an additional 13,822,673 shares during the period. Parvus Asset Management Jersey Ltd bought a new stake in Flutter Entertainment in the 2nd quarter valued at approximately $2,231,266,000. Cibc World Markets Corp acquired a new position in Flutter Entertainment during the 4th quarter worth approximately $1,678,841,000. Capital International Investors grew its stake in shares of Flutter Entertainment by 146.8% during the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after acquiring an additional 4,782,302 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Flutter Entertainment during the 2nd quarter worth approximately $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.