JMP Securities Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price objective reduced by analysts at JMP Securities from $328.00 to $317.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective would indicate a potential upside of 36.98% from the company’s previous close.

A number of other analysts have also commented on the company. Wells Fargo & Company lifted their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Peel Hunt raised shares of Flutter Entertainment from a “hold” rating to an “add” rating in a report on Monday, March 10th. Needham & Company LLC upped their price target on shares of Flutter Entertainment from $300.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. BTIG Research set a $323.00 price target on shares of Flutter Entertainment in a report on Monday, February 3rd. Finally, Macquarie restated an “outperform” rating and issued a $340.00 price objective on shares of Flutter Entertainment in a report on Wednesday, March 5th. Nineteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $311.76.

Flutter Entertainment Trading Up 0.8 %

NYSE FLUT opened at $231.43 on Monday. The company has a market cap of $41.07 billion and a price-to-earnings ratio of 1,051.94. Flutter Entertainment has a twelve month low of $174.03 and a twelve month high of $299.73. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average is $250.62 and its 200 day moving average is $253.37.

Insider Buying and Selling

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment 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 completion of the sale, the director now directly owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This trade represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLUT. Independence Bank of Kentucky grew its stake in Flutter Entertainment by 93.1% in the first quarter. Independence Bank of Kentucky now owns 3,868 shares of the company’s stock valued at $857,000 after acquiring an additional 1,865 shares during the period. Arthur M. Cohen & Associates LLC lifted its holdings in shares of Flutter Entertainment by 20.6% in the 1st quarter. Arthur M. Cohen & Associates LLC now owns 1,845 shares of the company’s stock worth $409,000 after purchasing an additional 315 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of Flutter Entertainment by 43.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after purchasing an additional 56 shares in the last quarter. Gunderson Capital Management Inc. acquired a new stake in Flutter Entertainment in the 1st quarter valued at $2,943,000. Finally, Rhumbline Advisers increased its stake in Flutter Entertainment by 5.4% during the 1st quarter. Rhumbline Advisers now owns 23,806 shares of the company’s stock valued at $5,274,000 after purchasing an additional 1,216 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.