Flutter Entertainment plc (NYSE:FLUT) Receives Average Rating of "Buy" from Analysts

Flutter Entertainment plc (NYSE:FLUT - Get Free Report) has been assigned an average rating of "Buy" from the twenty brokerages that are presently covering the stock, Marketbeat reports. Nineteen analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $311.41.

A number of equities research analysts have recently commented on FLUT shares. Barclays increased their target price on Flutter Entertainment from $301.00 to $308.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Susquehanna reduced their price objective on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research note on Wednesday, March 5th. Truist Financial assumed coverage on shares of Flutter Entertainment in a research note on Wednesday, February 26th. They issued a "buy" rating and a $330.00 target price on the stock. JMP Securities boosted their price objective on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a "market outperform" rating in a report on Monday, January 6th. Finally, Macquarie reaffirmed an "outperform" rating and issued a $340.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, March 5th.

Flutter Entertainment Stock Down 5.3 %

Shares of FLUT traded down $12.26 during mid-day trading on Wednesday, reaching $217.19. The company had a trading volume of 2,788,092 shares, compared to its average volume of 1,656,193. 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 company has a market capitalization of $38.54 billion and a price-to-earnings ratio of 987.22. The firm has a 50-day moving average price of $258.66 and a 200 day moving average price of $254.00.

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Insider Buying and Selling

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the business'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 completion of the sale, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following 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 trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its position in Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Flutter Entertainment during the fourth quarter worth approximately $25,000. Raleigh Capital Management Inc. acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth $26,000. BOCHK Asset Management Ltd purchased a new stake in Flutter Entertainment during the fourth quarter valued at about $26,000. Finally, IFP Advisors Inc lifted its position in shares of Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company's stock valued at $31,000 after acquiring an additional 83 shares in the last quarter.

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.