Flutter Entertainment (NYSE:FLUT) Hits New 52-Week Low After Analyst Downgrade

Flutter Entertainment PLC (NYSE:FLUT)’s share price hit a new 52-week low during trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from $300.00 to $270.00. Canaccord Genuity Group currently has a buy rating on the stock. Flutter Entertainment traded as low as $159.28 and last traded at $157.8040, with a volume of 94496 shares traded. The stock had previously closed at $162.51.

A number of other research firms have also commented on FLUT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Monday, December 29th. Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research report on Wednesday, January 21st. Morgan Stanley dropped their target price on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Benchmark cut their price objective on shares of 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, Texas Capital raised Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, January 8th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.05.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the company. JFS Wealth Advisors LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the period. JCIC Asset Management Inc. bought a new stake in shares of Flutter Entertainment during the 3rd quarter valued at $32,000. Signaturefd LLC lifted its stake in shares of Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock valued at $37,000 after purchasing an additional 64 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Flutter Entertainment in the 3rd quarter worth $34,000.

Flutter Entertainment Trading Down 3.4%

The business has a 50 day moving average of $204.55 and a 200 day moving average of $245.27. The firm has a market capitalization of $27.50 billion, a price-to-earnings ratio of -120.93 and a beta of 1.89. 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 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.