Flutter Entertainment (NYSE:FLUT) Sets New 1-Year Low – Time to Sell?

Flutter Entertainment PLC (NYSE:FLUT)’s share price reached a new 52-week low on Wednesday . The company traded as low as $122.34 and last traded at $128.1460, with a volume of 673670 shares changing hands. The stock had previously closed at $123.91.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FLUT shares. Citizens Jmp lowered their price target on shares of Flutter Entertainment from $313.00 to $275.00 and set a “market outperform” rating on the stock in a report on Thursday, January 22nd. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research note on Monday, January 5th. Craig Hallum downgraded shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, January 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. Finally, Benchmark decreased their price target on shares of Flutter Entertainment from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, December 1st. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $269.10.

Flutter Entertainment Stock Down 0.9%

The company has a market cap of $21.21 billion, a P/E ratio of -93.13 and a beta of 1.88. The stock has a 50-day moving average of $184.65 and a two-hundred day moving average of $230.07. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC boosted its holdings in shares of Flutter Entertainment by 294.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after acquiring an additional 282,736 shares during the last quarter. AGF Management Ltd. bought a new position in Flutter Entertainment during the third quarter valued at approximately $9,519,000. Federated Hermes Inc. purchased a new stake in Flutter Entertainment in the third quarter worth approximately $169,777,000. Mutual of America Capital Management LLC purchased a new stake in Flutter Entertainment in the third quarter worth approximately $2,173,000. Finally, CenterBook Partners LP grew its position in Flutter Entertainment by 723.5% in the 3rd quarter. CenterBook Partners LP now owns 13,967 shares of the company’s stock worth $3,548,000 after purchasing an additional 12,271 shares during the period.

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.