Flutter Entertainment plc (NYSE:FLUT) Short Interest Down 14.0% in December

Flutter Entertainment plc (NYSE:FLUT) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 3,330,000 shares, a decline of 14.0% from the December 15th total of 3,870,000 shares. Based on an average daily volume of 1,570,000 shares, the short-interest ratio is presently 2.1 days. Approximately 1.9% of the company’s stock are sold short.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT traded up $5.47 during midday trading on Friday, hitting $263.03. 1,200,603 shares of the company’s stock traded hands, compared to its average volume of 1,033,112. The firm has a fifty day moving average of $265.79 and a 200 day moving average of $233.43. Flutter Entertainment has a 1 year low of $174.03 and a 1 year high of $284.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89.

Flutter Entertainment announced that its board has initiated a stock buyback program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FLUT. Moffett Nathanson upped their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Susquehanna dropped their price target on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus started coverage on shares of Flutter Entertainment in a research note on Friday. They set a “buy” rating and a $320.00 target price on the stock. Benchmark upped their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Bank of America started coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 target price on the stock. Seventeen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $304.44.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLUT. Raleigh Capital Management Inc. purchased a new stake in Flutter Entertainment in the 4th quarter worth approximately $26,000. Harbor Investment Advisory LLC grew its holdings in Flutter Entertainment by 64.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after buying an additional 50 shares in the last quarter. UMB Bank n.a. grew its holdings in Flutter Entertainment by 58.8% during the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after buying an additional 50 shares in the last quarter. US Bancorp DE grew its holdings in Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after buying an additional 99 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in Flutter Entertainment during the 3rd quarter valued at approximately $82,000.

About Flutter Entertainment

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.