Flutter Entertainment (NYSE:FLUT) Price Target Cut to $317.00 by Analysts at Citizens Jmp

Flutter Entertainment (NYSE:FLUT - Free Report) had its price objective trimmed by Citizens Jmp from $328.00 to $317.00 in a report published on Monday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. Citigroup reiterated an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. JMP Securities decreased their target price on Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating for the company in a research note on Monday, April 14th. Barclays boosted their price target on shares of Flutter Entertainment from $301.00 to $308.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Macquarie reaffirmed an "outperform" rating and issued a $340.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Finally, Peel Hunt raised shares of Flutter Entertainment from a "hold" rating to an "add" rating in a research note on Monday, March 10th. Twenty analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $312.06.

Flutter Entertainment Stock Performance

FLUT traded up $0.24 during trading hours on Monday, hitting $227.42. The company's stock had a trading volume of 1,658,665 shares, compared to its average volume of 1,762,231. The firm has a market capitalization of $40.36 billion and a PE ratio of 1,033.70. The company has a 50-day simple moving average of $246.72 and a 200 day simple moving average of $252.86. Flutter Entertainment has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

Insider Activity

In related news, CEO Amy Howe sold 11,814 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction 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 approximately $16,396,130.50. This represents a 15.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was 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 represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. HighTower Advisors LLC increased its stake in Flutter Entertainment by 25.3% in the third quarter. HighTower Advisors LLC now owns 5,249 shares of the company's stock valued at $1,245,000 after acquiring an additional 1,061 shares during the period. MML Investors Services LLC grew its holdings in Flutter Entertainment by 10.9% during the 3rd quarter. MML Investors Services LLC now owns 3,552 shares of the company's stock worth $843,000 after acquiring an additional 350 shares during the last quarter. M&T Bank Corp lifted its holdings in Flutter Entertainment by 11.3% during the 3rd quarter. M&T Bank Corp now owns 1,995 shares of the company's stock worth $469,000 after buying an additional 203 shares in the last quarter. Virtu Financial LLC boosted its position in Flutter Entertainment by 56.2% in the 3rd quarter. Virtu Financial LLC now owns 7,371 shares of the company's stock valued at $1,749,000 after buying an additional 2,652 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Flutter Entertainment in the third quarter valued at about $802,000.

About Flutter Entertainment

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.