Flutter Entertainment plc (NYSE:FLUT) Given Average Recommendation of “Buy” by Brokerages

Shares of Flutter Entertainment plc (NYSE:FLUT) have been assigned an average rating of “Buy” from the twenty brokerages that are presently covering the firm, Marketbeat.com reports. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $311.41.

A number of equities analysts recently weighed in on the stock. BTIG Research set a $323.00 price objective on shares of Flutter Entertainment in a research report on Monday, February 3rd. Benchmark lifted their target price on shares of Flutter Entertainment from $275.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Susquehanna cut their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Barclays lifted their price objective on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Peel Hunt upgraded Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $222.62 on Wednesday. The company’s 50 day simple moving average is $259.40 and its 200-day simple moving average is $254.17. The firm has a market cap of $39.51 billion and a PE ratio of 1,011.91. 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.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction dated 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 directly owns 62,941 shares in the company, valued at $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Trading of Flutter Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of FLUT. Cerity Partners LLC boosted its position in Flutter Entertainment by 99.3% during the 3rd quarter. Cerity Partners LLC now owns 2,583 shares of the company’s stock worth $613,000 after purchasing an additional 1,287 shares during the period. Benjamin Edwards Inc. purchased a new stake in shares of Flutter Entertainment in the third quarter worth about $279,000. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Flutter Entertainment in the third quarter worth about $216,000. HighTower Advisors LLC grew its stake in shares of Flutter Entertainment by 25.3% in the third quarter. HighTower Advisors LLC now owns 5,249 shares of the company’s stock valued at $1,245,000 after buying an additional 1,061 shares in the last quarter. Finally, Investment Management Corp of Ontario purchased a new stake in shares of Flutter Entertainment during the 3rd quarter valued at about $1,400,000.

Flutter Entertainment Company Profile

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.