Canaccord Genuity Group Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price objective decreased by equities researchers at Canaccord Genuity Group from $300.00 to $270.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 65.90% from the stock’s current price.

Several other analysts also recently commented on FLUT. Citizens Jmp lowered their target price on shares of Flutter Entertainment from $313.00 to $275.00 and set a “market outperform” rating for the company in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. Sanford C. Bernstein dropped their target price on shares of Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating on the stock in a research report on Thursday, January 15th. Hsbc Global Res upgraded Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Finally, Craig Hallum downgraded Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $276.05.

Flutter Entertainment Trading Down 1.5%

Shares of Flutter Entertainment stock opened at $162.75 on Tuesday. 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 stock has a fifty day simple moving average of $204.55 and a 200 day simple moving average of $245.27. Flutter Entertainment has a 12-month low of $160.72 and a 12-month high of $313.68. The company has a market capitalization of $28.52 billion, a P/E ratio of -125.19 and a beta of 1.89.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its position in Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the last quarter. JFS Wealth Advisors LLC bought a new position in shares of Flutter Entertainment during the 3rd quarter worth $27,000. JCIC Asset Management Inc. bought a new position in shares of Flutter Entertainment during the 3rd quarter worth $32,000. Atlantic Union Bankshares Corp purchased a new stake in Flutter Entertainment in the 3rd quarter worth about $34,000. Finally, ORG Partners LLC raised its stake in Flutter Entertainment by 43.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 43 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.