Flutter Entertainment (NYSE:FLUT) Trading 6.7% Higher – Here’s What Happened

Flutter Entertainment PLC (NYSE:FLUT) was up 6.7% during trading on Tuesday . The company traded as high as $111.47 and last traded at $113.1960. Approximately 2,088,055 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 4,424,951 shares. The stock had previously closed at $106.08.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reiterated a “market perform” rating and set a $170.00 price objective on shares of Flutter Entertainment in a research report on Friday, February 6th. Stifel Nicolaus cut their target price on shares of Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Craig Hallum downgraded shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a report on Wednesday, January 21st. Morgan Stanley decreased their price target on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Finally, Zacks Research lowered Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $234.65.

Flutter Entertainment Stock Up 4.9%

The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. The company has a 50 day simple moving average of $171.97 and a two-hundred day simple moving average of $221.56. The company has a market capitalization of $19.51 billion, a P/E ratio of -61.84, a PEG ratio of 0.22 and a beta of 2.32.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the firm posted $2.94 EPS. Flutter Entertainment’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Institutional Trading of Flutter Entertainment

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

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.