Flutter Entertainment (NYSE:FLUT) Reaches New 1-Year High – Time to Buy?

Flutter Entertainment plc (NYSE:FLUT)’s share price hit a new 52-week high on Friday . The company traded as high as $290.62 and last traded at $291.47, with a volume of 173136 shares changing hands. The stock had previously closed at $282.22.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FLUT. JMP Securities raised their price target on shares of Flutter Entertainment from $299.00 to $311.00 and gave the company a “market outperform” rating in a report on Monday, January 6th. Craig Hallum raised their price target on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus began coverage on shares of Flutter Entertainment in a report on Friday, January 17th. They issued a “buy” rating and a $320.00 price target for the company. BTIG Research raised their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Flutter Entertainment in a report on Wednesday, January 8th. Seventeen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $305.38.

Flutter Entertainment Trading Up 5.9 %

The business’s 50-day moving average price is $265.51 and its two-hundred day moving average price is $243.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after acquiring an additional 82 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Flutter Entertainment in the 4th quarter valued at $25,000. Raleigh Capital Management Inc. bought a new stake in Flutter Entertainment in the 4th quarter valued at $26,000. BOCHK Asset Management Ltd bought a new stake in Flutter Entertainment in the 4th quarter valued at $26,000. Finally, IFP Advisors Inc lifted its position in Flutter Entertainment by 244.1% in the 4th quarter. IFP Advisors Inc now owns 117 shares of the company’s stock valued at $31,000 after acquiring an additional 83 shares in the last quarter.

Flutter Entertainment Company Profile

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.