Barclays Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its target price trimmed by Barclays from $308.00 to $300.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts also recently commented on FLUT. Susquehanna lowered their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. JMP Securities decreased their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating on the stock in a research note on Monday, April 14th. BTIG Research cut their price objective on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a research report on Tuesday. Truist Financial began coverage on Flutter Entertainment in a research report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 target price on the stock. Finally, Stifel Nicolaus dropped their price target on Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $309.44.

Flutter Entertainment Stock Up 2.5 %

Shares of FLUT opened at $227.08 on Tuesday. Flutter Entertainment has a 12-month low of $174.03 and a 12-month high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $40.30 billion and a PE ratio of 1,032.20. The business’s 50 day moving average is $244.49 and its 200 day moving average is $252.83.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the sale, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction on 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 approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FLUT. Harvest Fund Management Co. Ltd purchased a new stake in Flutter Entertainment in the 4th quarter valued at about $25,000. Farther Finance Advisors LLC raised its stake in shares of Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Flutter Entertainment in the fourth quarter valued at approximately $26,000. BOCHK Asset Management Ltd bought a new position in Flutter Entertainment in the fourth quarter worth approximately $26,000. Finally, GPS Wealth Strategies Group LLC increased its holdings in Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock worth $26,000 after purchasing an additional 110 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.