Flutter Entertainment (NYSE:FLUT) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Flutter Entertainment plc (NYSE:FLUT) saw unusually-high trading volume on Thursday . Approximately 2,128,953 shares were traded during mid-day trading, an increase of 43% from the previous session’s volume of 1,491,756 shares.The stock last traded at $237.84 and had previously closed at $236.26.

Analyst Ratings Changes

Several equities analysts have commented on FLUT shares. Benchmark lifted their target price on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Susquehanna lowered their target price on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, March 5th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. UBS Group lifted their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Macquarie reiterated an “outperform” rating and issued a $340.00 target price on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Nineteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $311.41.

Flutter Entertainment Stock Performance

The company has a 50-day moving average price of $262.27 and a two-hundred day moving average price of $253.72. The company has a market capitalization of $42.18 billion and a PE ratio of 1,078.98. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the sale, the chief executive officer now owns 62,941 shares of the company’s stock, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the transaction, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors have recently made changes to their positions in FLUT. Cerity Partners LLC boosted its holdings in shares of Flutter Entertainment by 99.3% in the 3rd quarter. Cerity Partners LLC now owns 2,583 shares of the company’s stock worth $613,000 after purchasing an additional 1,287 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Flutter Entertainment in the third quarter worth approximately $410,000. FMR LLC grew its position in Flutter Entertainment by 13.2% during the third quarter. FMR LLC now owns 3,375,670 shares of the company’s stock valued at $794,362,000 after acquiring an additional 393,122 shares during the last quarter. Soros Capital Management LLC raised its stake in shares of Flutter Entertainment by 1,782.4% during the third quarter. Soros Capital Management LLC now owns 94,496 shares of the company’s stock worth $22,422,000 after acquiring an additional 89,476 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth approximately $61,930,000.

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.