Flutter Entertainment PLC (NYSE:FLUT) Sees Large Increase in Short Interest

Flutter Entertainment PLC (NYSE:FLUT) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 8,639,973 shares, a growth of 23.2% from the December 15th total of 7,015,613 shares. Approximately 4.9% of the shares of the stock are short sold. Based on an average trading volume of 1,701,890 shares, the days-to-cover ratio is presently 5.1 days. Based on an average trading volume of 1,701,890 shares, the days-to-cover ratio is presently 5.1 days. Approximately 4.9% of the shares of the stock are short sold.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC increased its stake in shares of 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 last quarter. MML Investors Services LLC grew its holdings in Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after purchasing an additional 45 shares during the period. OneDigital Investment Advisors LLC increased its stake in Flutter Entertainment by 1.2% in the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock valued at $1,030,000 after purchasing an additional 49 shares in the last quarter. Versant Capital Management Inc increased its stake in Flutter Entertainment by 5.6% in the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after purchasing an additional 50 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in Flutter Entertainment by 5.7% in the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after purchasing an additional 58 shares during the period.

Analyst Ratings Changes

Several equities analysts have issued reports on FLUT shares. Canaccord Genuity Group cut their price objective on Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. JMP Securities lowered their price objective on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 1st. Wells Fargo & Company reiterated an “equal weight” rating and set a $228.00 target price (down from $248.00) on shares of Flutter Entertainment in a research report on Wednesday, January 14th. BTIG Research raised their price target on shares of Flutter Entertainment from $271.00 to $281.00 and gave the company a “buy” rating in a report on Friday, December 5th. Finally, Hsbc Global Res upgraded shares of Flutter Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $298.35.

Flutter Entertainment Price Performance

FLUT opened at $188.77 on Tuesday. The company has a fifty day moving average price of $210.39 and a two-hundred day moving average price of $253.54. The firm has a market capitalization of $33.08 billion, a PE ratio of -145.21 and a beta of 1.88. Flutter Entertainment has a 52 week low of $187.95 and a 52 week high of $313.68. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.96 and a current ratio of 0.96.

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.