Flutter Entertainment (NYSE:FLUT) Hits New 12-Month High – Here’s Why

Flutter Entertainment plc (NYSE:FLUT)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $290.62 and last traded at $291.47, with a volume of 173136 shares traded. The stock had previously closed at $282.22.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FLUT shares. Macquarie started coverage on Flutter Entertainment in a research report on Wednesday, December 11th. They set an “outperform” rating and a $340.00 target price for the company. Oppenheimer increased their price target on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company dropped their price target on Flutter Entertainment from $300.00 to $285.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group assumed coverage on Flutter Entertainment in a research note on Friday, November 22nd. They set a “buy” rating and a $320.00 price target for the company. Finally, BTIG Research increased their price target on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Seventeen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Flutter Entertainment presently has a consensus rating of “Buy” and an average price target of $305.38.

Flutter Entertainment Trading Up 4.5 %

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $265.14 and a two-hundred day moving average price of $241.92.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parvus Asset Management Europe Ltd purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth approximately $2,146,227,000. Stifel Financial Corp purchased a new position in Flutter Entertainment during the 4th quarter worth $1,401,000. OneDigital Investment Advisors LLC purchased a new position in Flutter Entertainment during the 4th quarter worth $1,287,000. Senator Investment Group LP increased its holdings in Flutter Entertainment by 230.2% during the 4th quarter. Senator Investment Group LP now owns 214,604 shares of the company’s stock worth $55,464,000 after purchasing an additional 149,604 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new position in Flutter Entertainment during the 4th quarter worth $33,000.

Flutter Entertainment Company Profile

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.