Truist Financial Initiates Coverage on Flutter Entertainment (NYSE:FLUT)

Truist Financial started coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $330.00 price target on the stock.

Several other equities research analysts also recently weighed in on FLUT. Wells Fargo & Company dropped their target price on shares of Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Oppenheimer boosted their target price on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. UBS Group boosted their target price on shares of Flutter Entertainment from $320.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Flutter Entertainment in a report on Wednesday, January 8th. Finally, Susquehanna decreased their price target on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Eighteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Flutter Entertainment currently has an average rating of “Buy” and a consensus target price of $307.88.

Flutter Entertainment Stock Performance

FLUT opened at $280.69 on Wednesday. The company has a 50-day moving average of $267.06 and a 200-day moving average of $249.00. Flutter Entertainment has a 1-year low of $174.03 and a 1-year high of $299.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in Flutter Entertainment during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC lifted its stake in shares of Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares during the period. Raleigh Capital Management Inc. acquired a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $26,000. BOCHK Asset Management Ltd acquired a new stake in shares of Flutter Entertainment in the 4th quarter worth approximately $26,000. Finally, IFP Advisors Inc lifted its stake in shares of Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock worth $31,000 after acquiring an additional 83 shares during the period.

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.