Citizens Jmp Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price objective trimmed by Citizens Jmp from $328.00 to $317.00 in a report released on Monday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on FLUT. Susquehanna cut their target price on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, March 5th. Needham & Company LLC upped their price objective on Flutter Entertainment from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Stifel Nicolaus started coverage on Flutter Entertainment in a research note on Friday, January 17th. They issued a “buy” rating and a $320.00 price objective on the stock. BTIG Research set a $323.00 target price on Flutter Entertainment in a research note on Monday, February 3rd. Finally, Wells Fargo & Company raised their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $312.06.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $227.08 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $40.30 billion and a PE ratio of 1,032.18. The firm has a 50 day moving average of $248.38 and a 200-day moving average of $252.98. Flutter Entertainment has a 12 month low of $174.03 and a 12 month high of $299.73.

Insider Buying and Selling at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the sale, the chief executive officer now owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd acquired a new stake in Flutter Entertainment during the fourth quarter worth approximately $25,000. Farther Finance Advisors LLC boosted its holdings in shares of Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after buying an additional 82 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Flutter Entertainment during the 4th quarter worth approximately $26,000. BOCHK Asset Management Ltd acquired a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $26,000. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of Flutter Entertainment by 1,375.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter.

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.