Flutter Entertainment plc (NYSE:FLUT) Given Average Rating of “Buy” by Brokerages

Shares of Flutter Entertainment plc (NYSE:FLUT) have been assigned a consensus rating of “Buy” from the twenty research firms that are presently covering the firm, Marketbeat reports. Nineteen research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $311.41.

A number of research analysts have recently commented on FLUT shares. Macquarie reiterated an “outperform” rating and set a $340.00 target price on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Susquehanna dropped their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group initiated coverage on shares of Flutter Entertainment in a research report on Friday, November 22nd. They issued a “buy” rating and a $320.00 price objective on the stock. Wells Fargo & Company increased their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, JMP Securities increased their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the stock a “market outperform” rating in a report on Monday, January 6th.

Flutter Entertainment Trading Up 1.4 %

Shares of NYSE:FLUT opened at $234.24 on Friday. The company has a market cap of $41.57 billion and a PE ratio of 1,064.74. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $265.59 and a 200 day moving average of $251.78. Flutter Entertainment has a 12-month low of $174.03 and a 12-month high of $299.73.

Insider Buying and Selling

In other news, CEO Amy Howe sold 11,814 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 62,941 shares in the company, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the sale, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parvus Asset Management Europe Ltd acquired a new stake in Flutter Entertainment in the fourth quarter valued at about $2,146,227,000. Norges Bank acquired a new position in Flutter Entertainment in the 4th quarter valued at about $946,681,000. Massachusetts Financial Services Co. MA purchased a new position in Flutter Entertainment in the 3rd quarter valued at about $849,474,000. Bank of Montreal Can boosted its stake in shares of Flutter Entertainment by 868.5% during the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after purchasing an additional 3,019,376 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth about $621,680,000.

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.