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Flutter Entertainment (NYSE:FLUT) Earns Buy Rating from Benchmark

Flutter Entertainment logo with Consumer Discretionary background

Flutter Entertainment (NYSE:FLUT - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Benchmark in a note issued to investors on Monday,Benzinga reports. They presently have a $300.00 price target on the stock. Benchmark's price target points to a potential upside of 28.83% from the company's current price.

Several other analysts have also issued reports on FLUT. Macquarie restated an "outperform" rating and issued a $340.00 price target on shares of Flutter Entertainment in a research report on Wednesday, March 5th. JMP Securities lowered their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. BTIG Research set a $323.00 price target on Flutter Entertainment in a report on Monday, February 3rd. Susquehanna decreased their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research note on Wednesday, March 5th. Finally, Truist Financial assumed coverage on shares of Flutter Entertainment in a research note on Wednesday, February 26th. They set a "buy" rating and a $330.00 price objective on the stock. 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 company has an average rating of "Buy" and a consensus target price of $306.67.

Get Our Latest Stock Analysis on FLUT

Flutter Entertainment Trading Up 1.1 %

Shares of NYSE:FLUT traded up $2.57 during mid-day trading on Monday, hitting $232.86. The stock had a trading volume of 2,359,805 shares, compared to its average volume of 1,798,092. The company has a market cap of $41.33 billion and a PE ratio of 1,058.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The company's 50 day moving average is $240.54 and its 200-day moving average is $252.63. Flutter Entertainment has a 12-month low of $174.03 and a 12-month high of $299.73.

Insider Activity at Flutter Entertainment

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

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently made changes to their positions in the stock. Capital World Investors raised its holdings in Flutter Entertainment by 11.9% during the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company's stock worth $3,986,968,000 after purchasing an additional 1,635,241 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Flutter Entertainment by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock valued at $2,479,812,000 after buying an additional 299,300 shares during the period. Parvus Asset Management Europe Ltd bought a new stake in Flutter Entertainment during the fourth quarter valued at $2,146,227,000. Norges Bank bought a new position in shares of Flutter Entertainment in the 4th quarter worth about $946,681,000. Finally, FMR LLC lifted its stake in shares of Flutter Entertainment by 0.8% in the 4th quarter. FMR LLC now owns 3,401,092 shares of the company's stock valued at $881,349,000 after purchasing an additional 25,422 shares during the period.

About Flutter Entertainment

(Get Free Report)

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.

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