Citizens Jmp Forecasts Strong Price Appreciation for Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment (NYSE:FLUT) had its price target increased by analysts at Citizens Jmp from $311.00 to $313.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective suggests a potential upside of 40.53% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Sanford C. Bernstein reissued a “market perform” rating on shares of Flutter Entertainment in a report on Thursday, December 11th. Wells Fargo & Company began coverage on Flutter Entertainment in a report on Tuesday, November 18th. They set an “overweight” rating and a $272.00 target price on the stock. Bank of America reissued a “neutral” rating and issued a $250.00 price target (down from $325.00) on shares of Flutter Entertainment in a report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Flutter Entertainment in a report on Monday, December 29th. Finally, Stifel Nicolaus cut their price target on shares of Flutter Entertainment from $339.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $302.55.

Flutter Entertainment Stock Up 2.0%

NYSE:FLUT traded up $4.46 on Monday, reaching $222.73. The stock had a trading volume of 240,527 shares, compared to its average volume of 1,324,180. Flutter Entertainment has a 12-month low of $189.33 and a 12-month high of $313.68. The stock has a market cap of $39.02 billion, a P/E ratio of -171.41 and a beta of 1.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average of $215.37 and a 200 day moving average of $258.87.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FLUT. Vanguard Group Inc. raised its position in shares of Flutter Entertainment by 402.4% in the 2nd quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after acquiring an additional 13,822,673 shares in the last quarter. Parvus Asset Management Jersey Ltd bought a new stake in shares of Flutter Entertainment in the second quarter valued at $2,231,266,000. Norges Bank purchased a new stake in shares of Flutter Entertainment during the 2nd quarter valued at approximately $930,349,000. State Street Corp boosted its stake in Flutter Entertainment by 120.3% in the 2nd quarter. State Street Corp now owns 3,086,730 shares of the company’s stock worth $882,064,000 after purchasing an additional 1,685,556 shares during the period. Finally, Geode Capital Management LLC grew its position in Flutter Entertainment by 57.4% during the second quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock worth $877,583,000 after buying an additional 1,122,892 shares in the last quarter.

About Flutter Entertainment

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.