BTIG Research Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $289.00

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its price target dropped by research analysts at BTIG Research from $323.00 to $289.00 in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a "buy" rating on the stock. BTIG Research's price objective suggests a potential upside of 30.36% from the stock's current price.

A number of other research firms have also weighed in on FLUT. Wells Fargo & Company upped their target price on Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Macquarie restated an "outperform" rating and set a $340.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Peel Hunt upgraded shares of Flutter Entertainment from a "hold" rating to an "add" rating in a report on Monday, March 10th. Truist Financial began coverage on shares of Flutter Entertainment in a report on Wednesday, February 26th. They issued a "buy" rating and a $330.00 price target on the stock. Finally, Barclays boosted their price objective on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Twenty equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $310.17.

Flutter Entertainment Trading Down 2.6 %

NYSE:FLUT opened at $221.70 on Tuesday. The firm has a 50-day simple moving average of $245.59 and a 200-day simple moving average of $253.01. Flutter Entertainment has a one year low of $174.03 and a one year high of $299.73. The firm has a market cap of $39.35 billion and a P/E ratio of 1,007.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Insider Buying and Selling

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

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLUT. Clarius Group LLC grew its position in shares of Flutter Entertainment by 13.3% during the 1st quarter. Clarius Group LLC now owns 931 shares of the company's stock valued at $206,000 after acquiring an additional 109 shares during the period. Sowell Financial Services LLC acquired a new stake in Flutter Entertainment in the first quarter valued at approximately $376,000. GPS Wealth Strategies Group LLC increased its position in shares of Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after buying an additional 110 shares in the last quarter. Rubicon Global Capital Ltd raised its stake in shares of Flutter Entertainment by 56.1% during the 1st quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock worth $15,564,000 after buying an additional 25,250 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Flutter Entertainment by 1.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 7,109 shares of the company's stock worth $1,575,000 after buying an additional 111 shares during the period.

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.

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