BTIG Research Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price target reduced by analysts at BTIG Research from $281.00 to $230.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 31.50% from the stock’s current price.

FLUT has been the subject of a number of other reports. Citizens Jmp dropped their target price on shares of Flutter Entertainment from $313.00 to $275.00 and set a “market outperform” rating for the company in a report on Thursday, January 22nd. JMP Securities lowered their price target on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Monday, December 29th. Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a report on Monday, January 5th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.38.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $174.90 on Tuesday. The company’s fifty day moving average is $207.20 and its two-hundred day moving average is $249.83. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $30.65 billion, a P/E ratio of -134.54 and a beta of 1.88. Flutter Entertainment has a one year low of $171.96 and a one year high of $313.68.

Institutional Trading of Flutter Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in FLUT. ORG Partners LLC boosted its stake in shares of Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. MML Investors Services LLC lifted its holdings in Flutter Entertainment by 0.6% in the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after purchasing an additional 45 shares in the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of Flutter Entertainment by 1.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after purchasing an additional 49 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Flutter Entertainment by 5.6% during the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock worth $240,000 after buying an additional 50 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in shares of Flutter Entertainment by 5.7% in the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock valued at $273,000 after buying an additional 58 shares during the last quarter.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.