Peel Hunt upgraded shares of Flutter Entertainment (NYSE:FLUT - Free Report) from a hold rating to an add rating in a research report sent to investors on Monday morning, MarketBeat reports.
Several other research analysts have also issued reports on the company. Craig Hallum increased their price objective on Flutter Entertainment from $275.00 to $350.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. BTIG Research set a $323.00 price target on Flutter Entertainment in a research note on Monday, February 3rd. Oppenheimer upped their target price on shares of Flutter Entertainment from $300.00 to $305.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Susquehanna reduced their price objective on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research note on Wednesday, March 5th. Finally, Needham & Company LLC boosted their target price on Flutter Entertainment from $300.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Twenty equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $311.41.
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Flutter Entertainment Stock Performance
NYSE:FLUT traded up $4.13 during mid-day trading on Monday, hitting $231.63. 3,532,425 shares of the company's stock traded hands, compared to its average volume of 1,731,546. The firm has a market capitalization of $41.11 billion and a price-to-earnings ratio of 1,052.85. Flutter Entertainment has a 12 month low of $174.03 and a 12 month high of $299.73. The firm has a 50 day moving average of $266.61 and a two-hundred day moving average of $251.76. 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 other news, Director Jeremy Peter Jackson sold 25,027 shares of the 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 owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.
Institutional Trading of Flutter Entertainment
Several institutional investors and hedge funds have recently made changes to their positions in FLUT. Harvest Fund Management Co. Ltd purchased a new stake in Flutter Entertainment during the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC lifted its holdings in shares of Flutter Entertainment by 585.7% during the fourth 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 period. Raleigh Capital Management Inc. purchased a new position in shares of Flutter Entertainment during the fourth quarter worth $26,000. BOCHK Asset Management Ltd acquired a new position in shares of Flutter Entertainment in the 4th quarter valued at about $26,000. Finally, IFP Advisors Inc grew its stake in shares of Flutter Entertainment by 244.1% during the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after purchasing an additional 83 shares during the period.
About Flutter Entertainment
(
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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.
Further Reading
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