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

Flutter Entertainment (NYSE:FLUT) had its price objective reduced by stock analysts at Stifel Nicolaus from $320.00 to $315.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 40.08% from the company’s current price.

Several other analysts have also commented on FLUT. Citizens Jmp reduced their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Truist Financial began coverage on shares of Flutter Entertainment in a report on Wednesday, February 26th. They issued a “buy” rating and a $330.00 price objective on the stock. Twenty 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 a consensus target price of $309.89.

Flutter Entertainment Trading Up 1.5 %

Flutter Entertainment stock traded up $3.38 during midday trading on Tuesday, hitting $224.88. 918,831 shares of the stock were exchanged, compared to its average volume of 1,763,031. 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 market capitalization of $39.91 billion and a price-to-earnings ratio of 1,022.10. The stock’s 50-day simple moving average is $245.59 and its 200 day simple moving average is $253.01. Flutter Entertainment has a fifty-two week low of $174.03 and a fifty-two week high of $299.73.

Insider Buying and Selling

In related news, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction that occurred on 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 owns 62,941 shares in the company, valued at $16,396,130.50. The trade was a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This 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

Several institutional investors have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd purchased a new stake in Flutter Entertainment in the fourth quarter valued at $25,000. Farther Finance Advisors LLC lifted its holdings in shares of Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Flutter Entertainment in the 4th quarter valued at about $26,000. BOCHK Asset Management Ltd purchased a new position in Flutter Entertainment during the 4th quarter worth approximately $26,000. Finally, GPS Wealth Strategies Group LLC increased its position in Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock worth $26,000 after buying an additional 110 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.