Flutter Entertainment (NYSE:FLUT) Reaches New 1-Year Low – Here’s What Happened

Flutter Entertainment PLC (NYSE:FLUT)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $114.93 and last traded at $115.3470, with a volume of 3334348 shares traded. The stock had previously closed at $121.02.

Wall Street Analysts Forecast Growth

FLUT has been the topic of a number of research analyst reports. Zacks Research lowered shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Monday, December 29th. Barclays cut their price objective on Flutter Entertainment from $307.00 to $304.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $228.00 price target (down previously from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $170.00 price objective on shares of Flutter Entertainment in a research report on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $269.10.

Flutter Entertainment Stock Performance

The stock has a market cap of $20.21 billion, a P/E ratio of -88.73 and a beta of 1.89. The company has a fifty day moving average price of $182.57 and a 200 day moving average price of $227.65. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96.

Institutional Trading of Flutter Entertainment

A number of institutional investors have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC purchased a new position in shares of Flutter Entertainment during the 3rd quarter valued at $27,000. MassMutual Private Wealth & Trust FSB lifted its position in Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. JCIC Asset Management Inc. purchased a new stake in Flutter Entertainment during the third quarter valued at about $32,000. Zions Bancorporation National Association UT grew its position in Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Flutter Entertainment in the third quarter worth $34,000.

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.