Flutter Entertainment plc (NYSE:FLUT) Receives Average Recommendation of “Buy” from Analysts

Flutter Entertainment plc (NYSE:FLUT) has been assigned an average rating of “Buy” from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Seventeen investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $304.44.

Several research firms have commented on FLUT. Susquehanna dropped their price target on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Barclays upped their price target on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Benchmark lifted their price objective on Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Macquarie initiated coverage on shares of Flutter Entertainment in a research note on Wednesday, December 11th. They set an “outperform” rating and a $340.00 target price on the stock. Finally, UBS Group increased their price objective on shares of Flutter Entertainment from $308.00 to $320.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Mediolanum International Funds Ltd boosted its holdings in shares of Flutter Entertainment by 157.4% in the fourth quarter. Mediolanum International Funds Ltd now owns 45,304 shares of the company’s stock valued at $11,677,000 after acquiring an additional 27,701 shares during the period. Forsta AP Fonden boosted its stake in Flutter Entertainment by 0.8% during the 4th quarter. Forsta AP Fonden now owns 37,700 shares of the company’s stock worth $9,744,000 after purchasing an additional 300 shares during the period. BOCHK Asset Management Ltd purchased a new position in Flutter Entertainment during the 4th quarter worth $26,000. Robeco Institutional Asset Management B.V. increased its stake in Flutter Entertainment by 47.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 30,375 shares of the company’s stock valued at $7,850,000 after purchasing an additional 9,724 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $75,000.

Flutter Entertainment Trading Up 0.3 %

Shares of FLUT stock opened at $267.60 on Friday. Flutter Entertainment has a fifty-two week low of $174.03 and a fifty-two week high of $284.79. The company has a 50 day moving average price of $266.47 and a 200 day moving average price of $234.67. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

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.