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

Flutter Entertainment (NYSE:FLUT) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on FLUT. Citizens Jmp raised their target price on Flutter Entertainment from $311.00 to $313.00 and gave the company a “market outperform” rating in a report on Monday, January 5th. Benchmark cut their price objective on shares of Flutter Entertainment from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, December 1st. JMP Securities cut their price target on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a report on Wednesday, October 1st. Wells Fargo & Company reissued an “equal weight” rating and set a $228.00 target price (down previously from $248.00) on shares of Flutter Entertainment in a research report on Wednesday, January 14th. Finally, Texas Capital raised Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average target price of $298.35.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $184.17 on Monday. The stock has a market cap of $32.27 billion, a price-to-earnings ratio of -141.67 and a beta of 1.88. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96. Flutter Entertainment has a fifty-two week low of $179.50 and a fifty-two week high of $313.68. The firm’s 50-day simple moving average is $209.44 and its 200 day simple moving average is $252.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC raised its stake in Flutter Entertainment by 124.7% in the 4th quarter. Signaturefd LLC now owns 400 shares of the company’s stock valued at $86,000 after acquiring an additional 222 shares during the period. Perpetual Ltd boosted its position in Flutter Entertainment by 3.6% during the fourth quarter. Perpetual Ltd now owns 963,249 shares of the company’s stock worth $207,137,000 after purchasing an additional 33,373 shares during the period. Tempus Wealth Planning LLC purchased a new position in shares of Flutter Entertainment in the fourth quarter worth about $273,000. FNY Investment Advisers LLC bought a new stake in shares of Flutter Entertainment in the fourth quarter valued at approximately $1,333,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Flutter Entertainment by 10.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 28,587 shares of the company’s stock valued at $6,147,000 after purchasing an additional 2,614 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.