Citizens Jmp Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

by · The Cerbat Gem

Flutter Entertainment (NYSE:FLUT – Get Free Report) had its price objective cut by investment analysts at Citizens Jmp from $345.00 to $311.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s target price indicates a potential upside of 43.52% from the stock’s previous close.

Several other equities analysts have also recently weighed in on FLUT. JMP Securities lowered their price objective on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 1st. HSBC raised shares of Flutter Entertainment from a “hold” rating to a “buy” rating and reduced their price target for the stock from $265.00 to $228.00 in a research report on Monday, November 24th. Bank of America reiterated a “neutral” rating and issued a $250.00 target price (down previously from $325.00) on shares of Flutter Entertainment in a research report on Tuesday, November 4th. Barclays lowered their target price on Flutter Entertainment from $352.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday, November 13th. Finally, Needham & Company LLC reduced their price target on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.05.

View Our Latest Analysis on Flutter Entertainment

Flutter Entertainment Stock Performance

Shares of FLUT opened at $216.70 on Thursday. The company has a 50-day moving average of $225.37 and a two-hundred day moving average of $263.26. The stock has a market cap of $37.96 billion, a price-to-earnings ratio of -166.52 and a beta of 1.92. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96. Flutter Entertainment has a one year low of $189.33 and a one year high of $313.68.

Institutional Trading of Flutter Entertainment

Several large investors have recently modified their holdings of FLUT. Vanguard Group Inc. lifted its position in Flutter Entertainment by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock worth $4,460,076,000 after acquiring an additional 301,879 shares during the last quarter. Parvus Asset Management Jersey Ltd acquired a new stake in shares of Flutter Entertainment in the second quarter valued at about $2,231,266,000. Wellington Management Group LLP increased its stake in shares of Flutter Entertainment by 5.5% in the third quarter. Wellington Management Group LLP now owns 3,519,434 shares of the company’s stock worth $903,694,000 after purchasing an additional 182,594 shares during the period. Capital International Investors increased its stake in shares of Flutter Entertainment by 4.9% in the third quarter. Capital International Investors now owns 3,256,764 shares of the company’s stock worth $827,841,000 after purchasing an additional 153,390 shares during the period. Finally, Norges Bank acquired a new position in shares of Flutter Entertainment during the 2nd quarter worth about $930,349,000.

About Flutter Entertainment

(Get Free Report)

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.

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