Flutter Entertainment plc (NYSE:FLUT) Short Interest Up 11.1% in August

Flutter Entertainment plc (NYSE:FLUT) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 2,110,000 shares, a growth of 11.1% from the August 15th total of 1,900,000 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily volume of 1,600,000 shares, the short-interest ratio is currently 1.3 days.

Flutter Entertainment Stock Down 0.9 %

NYSE:FLUT traded down $2.06 during trading hours on Wednesday, hitting $228.49. The stock had a trading volume of 753,686 shares, compared to its average volume of 892,883. The business’s 50 day moving average is $204.55 and its 200-day moving average is $199.99. Flutter Entertainment has a one year low of $148.00 and a one year high of $231.60.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. Analysts forecast that Flutter Entertainment will post 4.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Flutter Entertainment from $218.00 to $224.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Barclays started coverage on shares of Flutter Entertainment in a research report on Thursday, September 12th. They set an “overweight” rating and a $263.00 target price on the stock. JMP Securities reissued a “market outperform” rating and issued a $255.00 price target on shares of Flutter Entertainment in a report on Wednesday. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, BTIG Research increased their price objective on Flutter Entertainment from $245.00 to $249.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $246.44.

Institutional Trading of Flutter Entertainment

Large investors have recently bought and sold shares of the business. Artemis Investment Management LLP acquired a new stake in shares of Flutter Entertainment in the 1st quarter valued at about $29,611,000. Allspring Global Investments Holdings LLC bought a new stake in Flutter Entertainment in the 1st quarter valued at approximately $7,319,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Flutter Entertainment during the 1st quarter worth approximately $70,371,000. Financial Perspectives Inc acquired a new position in Flutter Entertainment during the 1st quarter worth approximately $102,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Flutter Entertainment during the 1st quarter worth approximately $1,115,000.

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.