Canaccord Genuity Group Lowers Flutter Entertainment (NYSE:FLUT) Price Target to $220.00

Flutter Entertainment (NYSE:FLUT) had its price target cut by Canaccord Genuity Group from $270.00 to $220.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 107.61% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Barclays dropped their target price on shares of Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday. Bank of America lowered their price target on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Monday, December 29th. BTIG Research lowered their target price on Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating on the stock in a report on Friday. Finally, Zacks Research downgraded 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 issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Flutter Entertainment has an average rating of “Moderate Buy” and an average target price of $234.65.

Flutter Entertainment Stock Down 0.2%

Shares of NYSE FLUT traded down $0.17 during mid-day trading on Monday, reaching $105.97. 5,499,674 shares of the company traded hands, compared to its average volume of 4,446,470. The company’s fifty day moving average is $174.32 and its two-hundred day moving average is $222.85. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment has a fifty-two week low of $99.96 and a fifty-two week high of $313.68. The stock has a market cap of $18.58 billion, a PE ratio of -58.88, a price-to-earnings-growth 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 earnings per share (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%.During the same period in the prior year, the firm posted $2.94 EPS. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current year.

Institutional Trading of Flutter Entertainment

Several institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Flutter Entertainment in the second quarter valued at approximately $405,000. Envestnet Asset Management Inc. increased its stake in shares of Flutter Entertainment by 24.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 68,772 shares of the company’s stock valued at $19,652,000 after buying an additional 13,673 shares during the period. Assetmark Inc. increased its stake in shares of Flutter Entertainment by 9.6% in the 2nd quarter. Assetmark Inc. now owns 16,952 shares of the company’s stock valued at $4,844,000 after buying an additional 1,485 shares during the period. Finally, Atria Investments Inc raised its position in shares of Flutter Entertainment by 158.8% during the second quarter. Atria Investments Inc now owns 3,051 shares of the company’s stock worth $872,000 after acquiring an additional 1,872 shares during the last quarter.

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.