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

Shares of Flutter Entertainment plc (NYSE:FLUT) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $290.62 and last traded at $291.47, with a volume of 173136 shares trading hands. The stock had previously closed at $282.22.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Susquehanna decreased their price target on shares of Flutter Entertainment from $322.00 to $317.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Craig Hallum increased their target price on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Barclays increased their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. BTIG Research increased their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Benchmark increased their target price on shares of Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Seventeen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Buy” and an average price target of $305.38.

Flutter Entertainment Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50-day moving average is $265.51 and its 200-day moving average is $243.00.

Institutional Trading of Flutter Entertainment

Hedge funds have recently modified their holdings of the company. Jennison Associates LLC acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth approximately $239,306,000. Vestcor Inc acquired a new stake in shares of Flutter Entertainment during the third quarter worth approximately $815,000. Benson Investment Management Company Inc. acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth approximately $5,116,000. Sanctuary Advisors LLC acquired a new stake in shares of Flutter Entertainment during the third quarter worth approximately $802,000. Finally, Mediolanum International Funds Ltd increased its holdings in shares of Flutter Entertainment by 157.4% during the fourth quarter. Mediolanum International Funds Ltd now owns 45,304 shares of the company’s stock worth $11,677,000 after buying an additional 27,701 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.