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

Flutter Entertainment plc (NYSE:FLUT) has received an average rating of “Buy” from the twenty analysts that are covering the stock, Marketbeat reports. Nineteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $311.41.

A number of equities research analysts have recently weighed in on FLUT shares. JMP Securities raised their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a research note on Monday, January 6th. Benchmark boosted their target price on shares of Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Peel Hunt upgraded Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Stifel Nicolaus initiated coverage on Flutter Entertainment in a research report on Friday, January 17th. They set a “buy” rating and a $320.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on Flutter Entertainment in a research report on Friday, November 22nd. They issued a “buy” rating and a $320.00 target price for the company.

Insider Buying and Selling

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 62,941 shares of the company’s stock, valued at $16,396,130.50. The trade was a 15.80 % 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 and hedge funds have recently made changes to their positions in FLUT. Harvest Fund Management Co. Ltd bought a new position in shares of Flutter Entertainment in the 4th quarter worth $25,000. Farther Finance Advisors LLC raised its holdings in 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 buying an additional 82 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Flutter Entertainment in the fourth quarter valued at $26,000. BOCHK Asset Management Ltd bought a new position in shares of Flutter Entertainment in the fourth quarter valued at $26,000. Finally, IFP Advisors Inc grew its holdings in shares of Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after buying an additional 83 shares during the last quarter.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $237.19 on Friday. Flutter Entertainment has a twelve month low of $174.03 and a twelve month high of $299.73. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $264.74 and its 200 day simple moving average is $251.84. The firm has a market capitalization of $42.09 billion and a PE ratio of 1,078.13.

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.