Flutter Entertainment’s (FLUT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Flutter Entertainment (NYSE:FLUT) in a research report released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $310.00 price objective on the stock.

Several other research analysts have also recently issued reports on the company. Susquehanna decreased their price target on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, March 5th. UBS Group upped their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Benchmark reiterated a “buy” rating and issued a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Macquarie reissued an “outperform” rating and set a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Finally, Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $303.79.

Flutter Entertainment Trading Up 1.0%

Flutter Entertainment stock opened at $272.16 on Tuesday. Flutter Entertainment has a 52-week low of $174.03 and a 52-week high of $299.73. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $48.09 billion and a price-to-earnings ratio of 94.17. The firm has a 50-day moving average price of $241.04 and a two-hundred day moving average price of $253.77.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current year.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, COO James Philip Bishop sold 3,000 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $243.20, for a total transaction of $729,600.00. Following the sale, the chief operating officer now owns 4,712 shares in the company, valued at approximately $1,145,958.40. The trade was a 38.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Bryant sold 418 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $102,706.78. Following the sale, the director now directly owns 5,956 shares of the company’s stock, valued at $1,463,448.76. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,770 shares of company stock valued at $1,894,934 over the last ninety days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Yousif Capital Management LLC boosted its stake in Flutter Entertainment by 7.5% in the 4th quarter. Yousif Capital Management LLC now owns 3,530 shares of the company’s stock worth $912,000 after purchasing an additional 245 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in Flutter Entertainment during the 4th quarter valued at $216,000. Asset Management One Co. Ltd. raised its stake in Flutter Entertainment by 0.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 62,564 shares of the company’s stock valued at $16,379,000 after purchasing an additional 317 shares during the period. Rhumbline Advisers lifted its holdings in shares of Flutter Entertainment by 0.6% in the fourth quarter. Rhumbline Advisers now owns 22,590 shares of the company’s stock valued at $5,838,000 after purchasing an additional 139 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in shares of Flutter Entertainment by 158.8% in the fourth quarter. Principal Securities Inc. now owns 220 shares of the company’s stock worth $57,000 after buying an additional 135 shares during the period.

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.