Flutter Entertainment (NYSE:FLUT) Earns “Outperform” Rating from Macquarie

Flutter Entertainment (NYSE:FLUT)‘s stock had its “outperform” rating reiterated by analysts at Macquarie in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $340.00 target price on the stock. Macquarie’s target price points to a potential upside of 32.32% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Truist Financial started coverage on Flutter Entertainment in a report on Wednesday, February 26th. They set a “buy” rating and a $330.00 price target on the stock. BTIG Research set a $323.00 target price on shares of Flutter Entertainment in a research report on Monday, February 3rd. Stifel Nicolaus started coverage on shares of Flutter Entertainment in a research report on Friday, January 17th. They issued a “buy” rating and a $320.00 price target on the stock. UBS Group boosted their price objective on shares of Flutter Entertainment from $320.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Susquehanna decreased their target price on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday. Eighteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $311.41.

Flutter Entertainment Stock Down 4.8 %

NYSE FLUT opened at $256.96 on Wednesday. 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 stock has a 50-day moving average of $267.50 and a 200 day moving average of $250.75. Flutter Entertainment has a one year low of $174.03 and a one year high of $299.73.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds have recently bought and sold shares of the business. abrdn plc bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth about $224,000. US Bancorp DE lifted its stake in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after purchasing an additional 99 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Flutter Entertainment in the 3rd quarter worth approximately $2,784,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Flutter Entertainment in the 3rd quarter worth approximately $4,900,000. Finally, Asset Management One Co. Ltd. purchased a new stake in Flutter Entertainment during the 3rd quarter valued at $14,770,000.

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.