Macquarie Reiterates Outperform Rating for Flutter Entertainment (NYSE:FLUT)

Flutter Entertainment (NYSE:FLUT)‘s stock had its “outperform” rating reiterated by analysts at Macquarie in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $340.00 price objective on the stock. Macquarie’s price target would indicate a potential upside of 25.26% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company boosted their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus began coverage on Flutter Entertainment in a report on Friday, January 17th. They set a “buy” rating and a $320.00 price objective for the company. BTIG Research set a $323.00 target price on Flutter Entertainment in a report on Monday, February 3rd. Benchmark upped their price target on Flutter Entertainment from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group started coverage on Flutter Entertainment in a research note on Friday, November 22nd. They set a “buy” rating and a $320.00 price objective on the stock. Eighteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $311.12.

Flutter Entertainment Price Performance

NYSE FLUT traded up $5.28 during mid-day trading on Wednesday, hitting $271.43. The company’s stock had a trading volume of 3,053,097 shares, compared to its average volume of 1,506,828. The company’s 50 day simple moving average is $267.35 and its 200 day simple moving average is $250.56. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment has a twelve month low of $174.03 and a twelve month high of $299.73.

Hedge Funds Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the company. Harbor Investment Advisory LLC grew its stake in shares of Flutter Entertainment by 64.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock worth $33,000 after acquiring an additional 50 shares during the period. UMB Bank n.a. boosted its position in Flutter Entertainment by 58.8% during the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Seelaus Asset Management LLC increased its stake in shares of Flutter Entertainment by 6.4% in the fourth quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock worth $236,000 after purchasing an additional 55 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Flutter Entertainment by 3.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock worth $446,000 after purchasing an additional 59 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Flutter Entertainment by 585.7% in 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 during the period.

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.