Flutter Entertainment PLC (NYSE:FLUT) Short Interest Update

Flutter Entertainment PLC (NYSE:FLUT) saw a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 12,469,256 shares, an increase of 24.4% from the January 29th total of 10,025,092 shares. Currently, 7.1% of the shares of the company are sold short. Based on an average daily volume of 5,448,337 shares, the days-to-cover ratio is presently 2.3 days. Based on an average daily volume of 5,448,337 shares, the days-to-cover ratio is presently 2.3 days. Currently, 7.1% of the shares of the company are sold short.

Institutional Trading of Flutter Entertainment

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew 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 purchasing an additional 301,879 shares in the last quarter. Capital International Investors increased its holdings in shares of Flutter Entertainment by 146.8% in the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after buying an additional 4,782,302 shares during the last quarter. Parvus Asset Management Jersey Ltd purchased a new stake in shares of Flutter Entertainment during the 2nd quarter valued at about $2,231,266,000. Cibc World Markets Corp bought a new position in shares of Flutter Entertainment in the 4th quarter valued at about $1,678,841,000. Finally, Caledonia Private Investments Pty Ltd lifted its holdings in shares of Flutter Entertainment by 3.8% in the 4th quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after acquiring an additional 264,856 shares during the last quarter.

Analyst Ratings Changes

Several research firms have recently commented on FLUT. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $170.00 price objective on shares of Flutter Entertainment in a research note on Friday, February 6th. Barclays decreased their target price on shares of Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating on the stock in a research note on Friday. UBS Group decreased their price objective on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Bank of America decreased their price target on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Finally, Morgan Stanley dropped their price objective on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average target price of $234.65.

Flutter Entertainment Price Performance

FLUT stock traded up $0.38 during mid-day trading on Tuesday, hitting $106.46. The company had a trading volume of 943,471 shares, compared to its average volume of 4,392,498. The company has a 50-day moving average price of $171.97 and a 200 day moving average price of $221.56. Flutter Entertainment has a 12-month low of $99.96 and a 12-month high of $313.68. The company has a market capitalization of $18.66 billion, a price-to-earnings ratio of -58.94, a P/E/G ratio of 0.22 and a beta of 2.32. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.94 EPS. On average, research analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current year.

About Flutter Entertainment

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.