Flutter Entertainment (NYSE:FLUT) Sees Large Volume Increase

Shares of Flutter Entertainment plc (NYSE:FLUT) saw unusually-strong trading volume on Tuesday . Approximately 877,739 shares were traded during mid-day trading, an increase of 63% from the previous session’s volume of 538,676 shares.The stock last traded at $189.53 and had previously closed at $186.31.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FLUT. Susquehanna reduced their price objective on Flutter Entertainment from $249.00 to $235.00 and set a “positive” rating for the company in a report on Thursday, May 30th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $210.00 price objective on shares of Flutter Entertainment in a report on Wednesday, May 15th. JMP Securities reiterated a “market outperform” rating and set a $246.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, May 15th. Moffett Nathanson started coverage on shares of Flutter Entertainment in a research report on Monday, May 6th. They issued a “buy” rating and a $240.00 target price for the company. Finally, Oppenheimer started coverage on shares of Flutter Entertainment in a research report on Tuesday, June 4th. They set an “outperform” rating and a $240.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5,464.10.

Flutter Entertainment Stock Performance

The business’s 50 day simple moving average is $192.93 and its 200-day simple moving average is $166.12.

Institutional Trading of Flutter Entertainment

Several large investors have recently made changes to their positions in FLUT. Artemis Investment Management LLP bought a new stake in Flutter Entertainment during the first quarter worth $29,611,000. Assenagon Asset Management S.A. acquired a new position in shares of Flutter Entertainment during the 1st quarter worth $1,115,000. V Square Quantitative Management LLC bought a new stake in shares of Flutter Entertainment during the 1st quarter worth $67,000. Simplicity Wealth LLC bought a new stake in shares of Flutter Entertainment during the 1st quarter worth $419,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Flutter Entertainment in the first quarter valued at about $7,319,000.

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.