Barclays Lowers Flutter Entertainment (NYSE:FLUT) Price Target to $300.00

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its price objective lowered by investment analysts at Barclays from $308.00 to $300.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's target price indicates a potential upside of 31.82% from the stock's current price.

Other analysts also recently issued research reports about the company. Susquehanna dropped their target price on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research report on Wednesday, March 5th. Citigroup reaffirmed an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Macquarie restated an "outperform" rating and issued a $340.00 target price on shares of Flutter Entertainment in a report on Wednesday, March 5th. Stifel Nicolaus lowered their price target on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a research report on Monday, March 10th. Twenty equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment currently has an average rating of "Buy" and an average price target of $309.44.

Flutter Entertainment Price Performance

NYSE FLUT traded up $6.09 during trading hours on Tuesday, hitting $227.59. The company had a trading volume of 1,245,463 shares, compared to its average volume of 1,764,373. Flutter Entertainment has a 52 week low of $174.03 and a 52 week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $40.39 billion and a price-to-earnings ratio of 1,034.36. The firm has a 50 day simple moving average of $245.59 and a 200 day simple moving average of $253.01.

Insiders Place Their Bets

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now directly owns 21,148 shares of the company's stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares of the company's stock, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors have recently bought and sold shares of FLUT. Harvest Fund Management Co. Ltd acquired a new position in shares of Flutter Entertainment during the fourth quarter worth about $25,000. Farther Finance Advisors LLC lifted its position in shares of Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after purchasing an additional 82 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in Flutter Entertainment in the fourth quarter valued at $26,000. BOCHK Asset Management Ltd purchased a new stake in Flutter Entertainment during the 4th quarter worth about $26,000. Finally, GPS Wealth Strategies Group LLC increased its holdings in shares of Flutter Entertainment by 1,375.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after acquiring an additional 110 shares during the last quarter.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.