Flutter Entertainment (NYSE:FLUT) Coverage Initiated at Moffett Nathanson

Stock analysts at Moffett Nathanson assumed coverage on shares of Flutter Entertainment (NYSE:FLUT) in a report issued on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $240.00 price target on the stock. Moffett Nathanson’s target price indicates a potential upside of 22.21% from the company’s current price.

Several other research firms have also weighed in on FLUT. Wells Fargo & Company started coverage on shares of Flutter Entertainment in a report on Thursday, April 4th. They issued an “equal weight” rating on the stock. Barclays raised shares of Flutter Entertainment from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, February 27th. JMP Securities reissued a “market outperform” rating on shares of Flutter Entertainment in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. raised shares of Flutter Entertainment from a “neutral” rating to an “overweight” rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13,302.50.

Flutter Entertainment Stock Performance

FLUT opened at $196.38 on Monday. The firm’s 50-day moving average price is $202.78 and its 200 day moving average price is $132.36. Flutter Entertainment has a twelve month low of $148.00 and a twelve month high of $226.40.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently added to or reduced their stakes in FLUT. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Flutter Entertainment during the 1st quarter worth approximately $70,371,000. Artemis Investment Management LLP acquired a new stake in Flutter Entertainment during the 1st quarter worth $29,611,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Flutter Entertainment during the 1st quarter worth $19,345,000. Retirement Systems of Alabama acquired a new stake in Flutter Entertainment during the 1st quarter worth $9,024,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Flutter Entertainment during the 1st quarter worth $7,319,000. 0.01% of the stock is owned by hedge funds and other institutional investors.

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.