Flutter Entertainment PLC (NYSE:FLUT) Sees Large Increase in Short Interest
by Jessica Moore · The Cerbat GemFlutter Entertainment PLC (NYSE:FLUT – Get Free Report) was the recipient of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 12,469,256 shares, a growth of 24.4% from the January 29th total of 10,025,092 shares. Based on an average daily volume of 5,448,337 shares, the short-interest ratio is currently 2.3 days. Currently, 7.1% of the shares of the stock are sold short. Currently, 7.1% of the shares of the stock are sold short. Based on an average daily volume of 5,448,337 shares, the short-interest ratio is currently 2.3 days.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on FLUT. Wells Fargo & Company reiterated an “equal weight” rating and issued a $228.00 target price (down from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. Oppenheimer dropped their price target on Flutter Entertainment from $280.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Morgan Stanley reduced their price objective on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Benchmark decreased their target price on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.65.
View Our Latest Report on FLUT
Flutter Entertainment Trading Up 1.2%
Shares of FLUT stock traded up $1.30 on Wednesday, reaching $112.70. 3,304,614 shares of the stock were exchanged, compared to its average volume of 5,907,648. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment has a one year low of $99.96 and a one year high of $313.68. The stock has a market cap of $19.76 billion, a PE ratio of -62.61, a P/E/G ratio of 0.51 and a beta of 2.30. The stock has a 50 day moving average price of $167.65 and a 200 day moving average price of $219.52.
Flutter Entertainment (NYSE:FLUT – Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.Flutter Entertainment’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.94 earnings per share. Equities research analysts forecast that Flutter Entertainment will post 4.17 EPS for the current fiscal year.
Hedge Funds Weigh In On Flutter Entertainment
Several large investors have recently bought and sold shares of FLUT. Makena Capital Management LLC acquired a new position in shares of Flutter Entertainment during the 3rd quarter worth about $11,517,000. TimesSquare Capital Management LLC raised its position in shares of Flutter Entertainment by 294.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after acquiring an additional 282,736 shares during the period. AGF Management Ltd. bought a new position in Flutter Entertainment during the 3rd quarter worth approximately $9,519,000. Mutual of America Capital Management LLC acquired a new position in Flutter Entertainment during the third quarter valued at approximately $2,173,000. Finally, Federated Hermes Inc. acquired a new position in Flutter Entertainment during the third quarter valued at approximately $169,777,000.
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.