BTIG Research Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $230.00

Flutter Entertainment (NYSE:FLUT) had its price objective dropped by research analysts at BTIG Research from $281.00 to $230.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 31.50% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. Citizens Jmp decreased their price objective on shares of Flutter Entertainment from $313.00 to $275.00 and set a “market outperform” rating for the company in a research note on Thursday, January 22nd. Craig Hallum downgraded Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a report on Wednesday, January 21st. Texas Capital raised Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, January 8th. Morgan Stanley cut their price target on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Finally, Oppenheimer reduced their price objective on Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.38.

Flutter Entertainment Stock Down 0.0%

Shares of NYSE:FLUT opened at $174.90 on Tuesday. The firm has a 50 day simple moving average of $207.20 and a 200-day simple moving average of $249.83. Flutter Entertainment has a twelve month low of $171.96 and a twelve 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. The company has a market capitalization of $30.65 billion, a PE ratio of -134.54 and a beta of 1.88.

Hedge Funds Weigh In On Flutter Entertainment

Large investors have recently bought and sold shares of the company. 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 valued at $4,460,076,000 after acquiring an additional 301,879 shares in the last quarter. Parvus Asset Management Jersey Ltd purchased a new stake in Flutter Entertainment in the 2nd quarter valued at approximately $2,231,266,000. Wellington Management Group LLP boosted its holdings in Flutter Entertainment by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,519,434 shares of the company’s stock valued at $903,694,000 after purchasing an additional 182,594 shares in the last quarter. Capital International Investors increased its position in Flutter Entertainment by 4.9% during 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 during the period. Finally, Norges Bank purchased 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.