Flutter Entertainment (NYSE:FLUT) Given “Neutral” Rating at Bank of America

Flutter Entertainment (NYSE:FLUT)‘s stock had its “neutral” rating restated by investment analysts at Bank of America in a note issued to investors on Tuesday,Benzinga reports. They currently have a $250.00 price target on the stock, down from their prior price target of $325.00. Bank of America‘s price target would suggest a potential upside of 8.08% from the company’s previous close.

A number of other brokerages also recently commented on FLUT. Stifel Nicolaus dropped their target price on shares of Flutter Entertainment from $356.00 to $339.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. BTIG Research set a $321.00 price target on shares of Flutter Entertainment in a research report on Thursday. Macquarie upped their price target on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Kepler Capital Markets raised shares of Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, August 28th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Flutter Entertainment in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment has an average rating of “Moderate Buy” and a consensus price target of $330.47.

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $231.32 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $40.74 billion, a P/E ratio of 113.95 and a beta of 1.91. The company’s 50-day simple moving average is $268.10 and its two-hundred day simple moving average is $269.43. Flutter Entertainment has a one year low of $196.88 and a one year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.87. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. Flutter Entertainment’s quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment announced that its board has approved a share buyback plan on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, CEO Amy Howe sold 4,097 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the sale, the chief executive officer owned 69,850 shares of the company’s stock, valued at $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel Mark Taylor sold 15,283 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the completion of the transaction, the insider directly owned 16,589 shares of the company’s stock, valued at approximately $4,724,547.20. This represents a 47.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 23,396 shares of company stock worth $6,759,745. 0.09% of the stock is currently owned by insiders.

Institutional Trading of Flutter Entertainment

Several institutional investors have recently modified their holdings of FLUT. Bank of New York Mellon Corp raised its stake in Flutter Entertainment by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 206,551 shares of the company’s stock worth $45,761,000 after purchasing an additional 6,738 shares during the period. Jefferies Financial Group Inc. raised its stake in Flutter Entertainment by 5.4% during the first quarter. Jefferies Financial Group Inc. now owns 18,163 shares of the company’s stock worth $3,995,000 after purchasing an additional 928 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Flutter Entertainment during the first quarter worth about $1,700,000. Cigna Investments Inc. New purchased a new position in Flutter Entertainment during the second quarter worth about $491,000. Finally, Fortis Capital Advisors LLC purchased a new position in Flutter Entertainment during the second quarter worth about $665,000.

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.