Flutter Entertainment (NYSE:FLUT) Trading Down 10.1% – Should You Sell?

Flutter Entertainment PLC (NYSE:FLUT) shares traded down 10.1% on Friday . The company traded as low as $128.57 and last traded at $127.0470. 2,041,205 shares were traded during trading, a decline of 43% from the average session volume of 3,589,366 shares. The stock had previously closed at $141.37.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of analyst reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $170.00 price objective on shares of Flutter Entertainment in a research report on Friday, February 6th. BTIG Research reduced their price target on Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, January 27th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a report on Monday, January 5th. Susquehanna reaffirmed a “positive” rating and issued a $228.00 target price on shares of Flutter Entertainment in a research report on Tuesday, January 27th. Finally, Stifel Nicolaus decreased their price target on shares of Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $272.48.

Flutter Entertainment Price Performance

The stock has a market capitalization of $21.94 billion, a P/E ratio of -96.33 and a beta of 1.88. The company has a 50 day moving average of $194.12 and a 200-day moving average of $235.81. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $1.25. Flutter Entertainment had a negative net margin of 0.95% and a positive return on equity of 14.42%. The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the company earned $1.27 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. Sell-side analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares during the period. Sivia Capital Partners LLC bought a new position in Flutter Entertainment during the 2nd quarter worth $405,000. US Bancorp DE increased its position in Flutter Entertainment by 21.9% in the second quarter. US Bancorp DE now owns 2,769 shares of the company’s stock worth $791,000 after buying an additional 497 shares during the period. Apollon Wealth Management LLC acquired a new stake in Flutter Entertainment in the second quarter worth $336,000. Finally, CWM LLC lifted its stake in Flutter Entertainment by 719.4% in the second quarter. CWM LLC now owns 1,778 shares of the company’s stock valued at $508,000 after buying an additional 1,561 shares during the last quarter.

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.