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

Flutter Entertainment (NYSE:FLUT) had its target price decreased by Barclays from $308.00 to $300.00 in a report released on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

FLUT has been the subject of several other reports. Benchmark reissued a “buy” rating and set a $300.00 target price on shares of Flutter Entertainment in a research report on Monday. Truist Financial began coverage on Flutter Entertainment in a report on Wednesday, February 26th. They set a “buy” rating and a $330.00 price objective for the company. Macquarie restated an “outperform” rating and issued a $340.00 target price on shares of Flutter Entertainment in a report on Wednesday, March 5th. Susquehanna decreased their price target on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a report on Wednesday, March 5th. Finally, BTIG Research dropped their price objective on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating on the stock in a research note on Tuesday. Twenty equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $306.67.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $230.12 on Tuesday. The company has a market cap of $40.84 billion and a P/E ratio of 1,046.00. The company has a fifty day simple moving average of $241.77 and a 200 day simple moving average of $252.65. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment has a 12-month low of $174.03 and a 12-month high of $299.73.

Insiders Place Their Bets

In other news, CEO Amy Howe sold 11,814 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $260.50, for a total value of $3,077,547.00. Following the sale, the chief executive officer now owns 62,941 shares of the company’s stock, 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 SEC, which is available at the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the company’s 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 sale, the director now owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Flutter Entertainment

Large investors have recently made changes to their positions in the stock. Jennison Associates LLC bought a new position in Flutter Entertainment in the 4th quarter worth about $239,306,000. DJE Kapital AG purchased a new position in Flutter Entertainment during the fourth quarter valued at approximately $442,000. Sanctuary Advisors LLC purchased a new stake in Flutter Entertainment in the 3rd quarter worth approximately $802,000. Benson Investment Management Company Inc. bought a new position in Flutter Entertainment in the 4th quarter valued at $5,116,000. Finally, Bank of New York Mellon Corp grew its position in shares of Flutter Entertainment by 68.3% during the 4th quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company’s stock valued at $51,642,000 after purchasing an additional 81,101 shares in the last quarter.

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.