Flutter Entertainment (NYSE:FLUT) Hits New 1-Year Low – Here’s What Happened

Shares of Flutter Entertainment PLC (NYSE:FLUT) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $114.93 and last traded at $115.3470, with a volume of 3334348 shares. The stock had previously closed at $121.02.

Analyst Ratings Changes

Several equities analysts have weighed in on FLUT shares. Benchmark dropped their target price on shares of Flutter Entertainment from $310.00 to $285.00 and set a “buy” rating for the company in a report on Monday, December 1st. Truist Financial set a $260.00 target price on Flutter Entertainment in a research note on Tuesday, January 13th. Wells Fargo & Company reissued an “equal weight” rating and set a $228.00 price target (down previously from $248.00) on shares of Flutter Entertainment in a research report on Wednesday, January 14th. Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, BTIG Research dropped their target price on Flutter Entertainment from $281.00 to $230.00 and set a “buy” rating on the stock in a report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $269.10.

Flutter Entertainment Stock Performance

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 market cap of $20.21 billion, a P/E ratio of -88.73 and a beta of 1.89. The company’s 50-day moving average price is $182.57 and its two-hundred day moving average price is $227.65.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the period. JFS Wealth Advisors LLC bought a new stake in Flutter Entertainment during the 3rd quarter worth approximately $27,000. Zions Bancorporation National Association UT increased its stake in shares of Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after buying an additional 118 shares in the last quarter. JCIC Asset Management Inc. bought a new position in shares of Flutter Entertainment in the third quarter worth about $32,000. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Flutter Entertainment during the third quarter valued at $34,000.

Flutter Entertainment Company Profile

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.