Bank of America Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

by · The Cerbat Gem

Flutter Entertainment (NYSE:FLUT – Get Free Report) had its target price cut by Bank of America from $250.00 to $210.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential upside of 15.93% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company restated an “equal weight” rating and set a $228.00 price target (down previously from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. HSBC upgraded shares of Flutter Entertainment from a “hold” rating to a “buy” rating and reduced their target price for the stock from $265.00 to $228.00 in a research note on Monday, November 24th. UBS Group dropped their price target on shares of Flutter Entertainment from $340.00 to $320.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. Truist Financial set a $260.00 price objective on shares of Flutter Entertainment in a research report on Tuesday, January 13th. Finally, Barclays decreased their price objective on shares of Flutter Entertainment from $325.00 to $307.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average price target of $291.76.

Get Our Latest Stock Report on FLUT

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $181.14 on Thursday. Flutter Entertainment has a one year low of $179.37 and a one year high of $313.68. The stock has a market capitalization of $31.74 billion, a price-to-earnings ratio of -139.34 and a beta of 1.88. The company has a 50-day simple moving average of $208.38 and a 200-day simple moving average of $252.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the company. Rathbones Group PLC raised its position in shares of Flutter Entertainment by 2.8% in the fourth quarter. Rathbones Group PLC now owns 7,017 shares of the company’s stock valued at $1,509,000 after buying an additional 192 shares during the last quarter. Signaturefd LLC increased its stake in Flutter Entertainment by 124.7% in the fourth quarter. Signaturefd LLC now owns 400 shares of the company’s stock valued at $86,000 after purchasing an additional 222 shares during the last quarter. Perpetual Ltd lifted its position in Flutter Entertainment by 3.6% during the fourth quarter. Perpetual Ltd now owns 963,249 shares of the company’s stock worth $207,137,000 after buying an additional 33,373 shares during the period. Tempus Wealth Planning LLC acquired a new stake in Flutter Entertainment in the 4th quarter worth about $273,000. Finally, FNY Investment Advisers LLC purchased a new stake in Flutter Entertainment in the 4th quarter valued at about $1,333,000.

Flutter Entertainment Company Profile

(Get Free Report)

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.

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