Truist Financial Initiates Coverage on Flutter Entertainment (NYSE:FLUT)

Investment analysts at Truist Financial began coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $330.00 price target on the stock. Truist Financial’s target price indicates a potential upside of 21.29% from the company’s current price.

Several other research firms have also issued reports on FLUT. UBS Group increased their target price on Flutter Entertainment from $320.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Oppenheimer increased their price objective on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus started coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They issued a “buy” rating and a $320.00 target price on the stock. JMP Securities upped their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a report on Monday, January 6th. Finally, Craig Hallum increased their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Eighteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $307.88.

Flutter Entertainment Stock Down 0.4 %

Shares of FLUT stock opened at $272.09 on Wednesday. Flutter Entertainment has a 1 year low of $174.03 and a 1 year 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 stock has a 50 day simple moving average of $266.75 and a 200 day simple moving average of $248.36.

Institutional Trading of Flutter Entertainment

Hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp acquired a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $2,250,000. Sylebra Capital LLC bought a new stake in Flutter Entertainment during the 4th quarter worth approximately $5,677,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Flutter Entertainment by 27.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 322,025 shares of the company’s stock valued at $83,227,000 after acquiring an additional 68,675 shares during the period. USS Investment Management Ltd bought a new position in shares of Flutter Entertainment during the fourth quarter valued at $7,427,000. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Flutter Entertainment by 95.9% during the fourth quarter. Voloridge Investment Management LLC now owns 92,441 shares of the company’s stock worth $23,891,000 after purchasing an additional 45,248 shares during the period.

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.