Flutter Entertainment (NYSE:FLUT) Sees Strong Trading Volume

Shares of Flutter Entertainment plc (NYSE:FLUT) saw unusually-high trading volume on Thursday . Approximately 389,868 shares changed hands during trading, a decline of 47% from the previous session’s volume of 737,742 shares.The stock last traded at $211.88 and had previously closed at $210.13.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Oppenheimer raised their price target on Flutter Entertainment from $240.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. BTIG Research raised their target price on Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Moffett Nathanson assumed coverage on Flutter Entertainment in a research report on Monday, May 6th. They set a “buy” rating and a $240.00 price target on the stock. Benchmark reissued a “buy” rating and issued a $255.00 price target on shares of Flutter Entertainment in a report on Wednesday, August 14th. Finally, Morgan Stanley started coverage on shares of Flutter Entertainment in a research note on Thursday. They set an “overweight” rating and a $247.00 price objective for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,995.00.

Flutter Entertainment Stock Performance

The firm’s 50-day simple moving average is $195.48 and its 200-day simple moving average is $192.97.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Capital World Investors purchased a new position in Flutter Entertainment in the 1st quarter worth $2,880,796,000. Capital Research Global Investors purchased a new stake in Flutter Entertainment during the 1st quarter valued at $2,418,032,000. Vanguard Group Inc. bought a new stake in Flutter Entertainment in the 1st quarter worth $1,578,442,000. Capital International Investors purchased a new position in shares of Flutter Entertainment in the first quarter valued at about $507,170,000. Finally, Marshall Wace LLP increased its position in shares of Flutter Entertainment by 339.2% in the second quarter. Marshall Wace LLP now owns 1,076,739 shares of the company’s stock valued at $196,354,000 after acquiring an additional 831,585 shares during the period.

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.