JMP Securities Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $317.00

Flutter Entertainment (NYSE:FLUT) had its target price lowered by JMP Securities from $328.00 to $317.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

FLUT has been the subject of a number of other research reports. Barclays boosted their price target on Flutter Entertainment from $301.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. UBS Group increased their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Susquehanna decreased their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Wells Fargo & Company increased their price objective on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Flutter Entertainment currently has an average rating of “Buy” and an average target price of $312.06.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $227.08 on Monday. The company has a market cap of $40.30 billion and a price-to-earnings ratio of 1,032.18. Flutter Entertainment has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty day moving average price of $248.38 and a 200-day moving average price of $252.98.

Insider Transactions at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the completion of the transaction, 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 this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Flutter Entertainment

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

About Flutter Entertainment

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.