Flutter Entertainment plc (NYSE:FLUT) Sees Significant Increase in Short Interest

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

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. Maven Securities LTD bought a new position in shares of Flutter Entertainment during the second quarter valued at approximately $894,000. Susquehanna International Group Ltd. lifted its stake in Flutter Entertainment by 124.2% in the second quarter. Susquehanna International Group Ltd. now owns 56,534 shares of the company’s stock valued at $10,310,000 after buying an additional 31,322 shares during the last quarter. Scientech Research LLC acquired a new position in shares of Flutter Entertainment during the second quarter valued at $993,000. Sender Co & Partners Inc. bought a new position in shares of Flutter Entertainment during the second quarter worth about $1,083,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Flutter Entertainment by 168.9% in the 2nd quarter. Mackenzie Financial Corp now owns 11,918 shares of the company’s stock worth $2,177,000 after acquiring an additional 7,486 shares during the period.

Analyst Ratings Changes

A number of research firms recently weighed in on FLUT. Wells Fargo & Company raised their price target on shares of Flutter Entertainment from $218.00 to $224.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. BTIG Research lifted their target price on Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley initiated coverage on Flutter Entertainment in a report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price target for the company. Oppenheimer raised their price objective on Flutter Entertainment from $240.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Susquehanna upped their target price on Flutter Entertainment from $222.00 to $230.00 and gave the company a “positive” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $246.44.

Flutter Entertainment Stock Performance

Shares of FLUT stock traded down $0.34 on Wednesday, hitting $230.21. 1,041,589 shares of the stock traded hands, compared to its average volume of 894,482. The company’s fifty day moving average is $204.55 and its 200 day moving average is $199.99. Flutter Entertainment has a 1-year low of $148.00 and a 1-year high of $232.05.

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

Flutter Entertainment Company Profile

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.