Flutter Entertainment (NYSE:FLUT) Hits New 52-Week Low After Analyst Downgrade

Flutter Entertainment PLC (NYSE:FLUT)’s share price hit a new 52-week low during trading on Tuesday after Canaccord Genuity Group lowered their price target on the stock from $300.00 to $270.00. Canaccord Genuity Group currently has a buy rating on the stock. Flutter Entertainment traded as low as $159.28 and last traded at $157.8040, with a volume of 94496 shares. The stock had previously closed at $162.51.

Several other equities analysts have also recently weighed in on FLUT. Wells Fargo & Company reiterated an “equal weight” rating and set a $228.00 price objective (down previously from $248.00) on shares of Flutter Entertainment in a report on Wednesday, January 14th. Craig Hallum cut shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, January 21st. Stifel Nicolaus lowered their target price on Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating for the company in a report on Friday. Barclays cut their price target on Flutter Entertainment from $307.00 to $304.00 and set an “overweight” rating on the stock in a report on Friday, January 23rd. Finally, Susquehanna reiterated a “positive” rating and set a $228.00 price objective on shares of Flutter Entertainment in a report on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $276.05.

Institutional Trading of Flutter Entertainment

A number of hedge funds have recently modified their holdings of FLUT. MassMutual Private Wealth & Trust FSB grew its stake in Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. JFS Wealth Advisors LLC acquired a new position in shares of Flutter Entertainment in the third quarter valued at approximately $27,000. JCIC Asset Management Inc. acquired a new position in shares of Flutter Entertainment in the third quarter valued at approximately $32,000. Atlantic Union Bankshares Corp bought a new position in shares of Flutter Entertainment during the third quarter worth approximately $34,000. Finally, ORG Partners LLC lifted its holdings in Flutter Entertainment by 43.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 43 shares during the last quarter.

Flutter Entertainment Price Performance

The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $27.50 billion, a P/E ratio of -120.93 and a beta of 1.89. The company has a 50 day moving average of $204.55 and a 200-day moving average of $245.27.

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.