Flutter Entertainment (NYSE:FLUT) Hits New 12-Month High - Here's What Happened

Flutter Entertainment plc (NYSE:FLUT - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The company traded as high as $290.62 and last traded at $291.47, with a volume of 173136 shares trading hands. The stock had previously closed at $282.22.

Analysts Set New Price Targets

A number of research firms recently weighed in on FLUT. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price target on shares of Flutter Entertainment in a research note on Wednesday, January 8th. The Goldman Sachs Group assumed coverage on Flutter Entertainment in a report on Friday, November 22nd. They issued a "buy" rating and a $320.00 target price on the stock. BTIG Research boosted their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Oppenheimer increased their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Finally, Craig Hallum raised their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Seventeen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Flutter Entertainment has a consensus rating of "Buy" and a consensus target price of $305.38.

Flutter Entertainment Price Performance

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $266.06 and a 200-day simple moving average of $244.07.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors have recently bought and sold shares of the business. Capital World Investors increased its position in Flutter Entertainment by 11.9% in the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock worth $3,986,968,000 after purchasing an additional 1,635,241 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Flutter Entertainment by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock worth $2,479,812,000 after buying an additional 299,300 shares in the last quarter. Parvus Asset Management Europe Ltd purchased a new position in shares of Flutter Entertainment in the 4th quarter worth $2,146,227,000. Norges Bank bought a new stake in shares of Flutter Entertainment in the 4th quarter worth about $946,681,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Flutter Entertainment during the 3rd quarter valued at about $849,474,000.

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.