Flutter Entertainment (NYSE:FLUT) Upgraded at Peel Hunt

Peel Hunt upgraded shares of Flutter Entertainment (NYSE:FLUT) from a hold rating to an add rating in a research note released on Monday morning, MarketBeat reports.

Other equities analysts have also recently issued reports about the company. Truist Financial assumed coverage on Flutter Entertainment in a report on Wednesday, February 26th. They set a “buy” rating and a $330.00 price objective on the stock. Susquehanna decreased their price objective on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Wells Fargo & Company raised their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Macquarie reissued an “outperform” rating and set a $340.00 price objective on shares of Flutter Entertainment in a report on Wednesday, March 5th. Finally, Barclays raised their price objective on Flutter Entertainment from $301.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Twenty analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Flutter Entertainment currently has an average rating of “Buy” and an average price target of $311.41.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $234.24 on Monday. The business’s 50-day moving average price is $265.59 and its two-hundred day moving average price is $251.78. Flutter Entertainment has a twelve month low of $174.03 and a twelve month high of $299.73. The stock has a market cap of $41.57 billion and a P/E ratio of 1,064.74. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

Insider Transactions at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following the sale, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds have recently made changes to their positions in the company. Harbor Investment Advisory LLC boosted its position in shares of Flutter Entertainment by 64.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Flutter Entertainment by 58.8% during the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares in the last quarter. Seelaus Asset Management LLC boosted its position in shares of Flutter Entertainment by 6.4% during the fourth quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock valued at $236,000 after purchasing an additional 55 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Flutter Entertainment by 3.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after purchasing an additional 59 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares in the last quarter.

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.