Flutter Entertainment (NYSE:FLUT) Hits New 1-Year Low – Should You Sell?

Shares of Flutter Entertainment PLC (NYSE:FLUT) reached a new 52-week low on Friday . The company traded as low as $188.80 and last traded at $188.7970, with a volume of 2463857 shares changing hands. The stock had previously closed at $201.08.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. BTIG Research lifted their price target on Flutter Entertainment from $271.00 to $281.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Wells Fargo & Company restated an “equal weight” rating and issued a $228.00 price objective (down from $248.00) on shares of Flutter Entertainment in a research report on Wednesday. Canaccord Genuity Group lowered their target price on shares of Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Finally, Barclays dropped their target price on shares of Flutter Entertainment from $325.00 to $307.00 and set an “overweight” rating for the company in a research report on Wednesday, December 17th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.35.

Flutter Entertainment Trading Down 6.1%

The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $33.08 billion, a P/E ratio of -145.21 and a beta of 1.88. The stock has a 50-day moving average price of $211.91 and a two-hundred day moving average price of $255.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FLUT. Tempus Wealth Planning LLC bought a new position in Flutter Entertainment during the 4th quarter valued at about $273,000. FNY Investment Advisers LLC purchased a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $1,333,000. Exchange Traded Concepts LLC lifted its position in Flutter Entertainment by 10.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 28,587 shares of the company’s stock valued at $6,147,000 after purchasing an additional 2,614 shares during the period. Stablepoint Partners LLC boosted its holdings in Flutter Entertainment by 2.9% in the fourth quarter. Stablepoint Partners LLC now owns 4,009 shares of the company’s stock worth $862,000 after purchasing an additional 114 shares during the last quarter. Finally, Stableford Capital II LLC grew its position in Flutter Entertainment by 272.5% in the 4th quarter. Stableford Capital II LLC now owns 11,149 shares of the company’s stock worth $2,397,000 after purchasing an additional 8,156 shares during the period.

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.