Flutter Entertainment (NYSE:FLUT) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Flutter Entertainment (NYSE:FLUT) from a hold rating to a strong sell rating in a research report released on Monday,Zacks.com reports.

Several other brokerages have also issued reports on FLUT. Morgan Stanley lowered their price target on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research note on Monday, January 5th. Needham & Company LLC cut their price target on shares of Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $228.00 price objective (down from $248.00) on shares of Flutter Entertainment in a report on Wednesday, January 14th. Finally, Barclays lowered their price objective on Flutter Entertainment from $325.00 to $307.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $298.35.

Flutter Entertainment Trading Down 2.3%

Shares of FLUT stock opened at $184.17 on Monday. The firm has a market capitalization of $32.27 billion, a P/E ratio of -141.67 and a beta of 1.88. Flutter Entertainment has a 1 year low of $179.50 and a 1 year high of $313.68. The firm’s fifty day simple moving average is $209.44 and its 200 day simple moving average is $252.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Flutter Entertainment by 44.9% during the 2nd quarter. Parallel Advisors LLC now owns 197 shares of the company’s stock worth $56,000 after buying an additional 61 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Flutter Entertainment in the 2nd quarter valued at $405,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Flutter Entertainment in the 2nd quarter valued at $621,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Flutter Entertainment by 1.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 7,203 shares of the company’s stock valued at $2,058,000 after buying an additional 94 shares during the period.

Flutter Entertainment Company Profile

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.