Flutter Entertainment PLC (NYSE:FLUT) Receives $234.65 Consensus PT from Brokerages

Shares of Flutter Entertainment PLC (NYSE:FLUT) have received an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $234.65.

A number of research firms recently weighed in on FLUT. Susquehanna reissued a “positive” rating and issued a $228.00 price objective on shares of Flutter Entertainment in a research report on Tuesday, January 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a research note on Wednesday, January 21st. Truist Financial reduced their price target on Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, HSBC upgraded Flutter Entertainment from a “hold” rating to a “buy” rating and dropped their price objective for the company from $265.00 to $228.00 in a report on Monday, November 24th.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 4,326 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the completion of the transaction, the chief executive officer directly owned 36,788 shares of the company’s stock, valued at approximately $3,973,104. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert Coldrake sold 4,613 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total value of $491,053.85. Following the completion of the sale, the chief financial officer owned 10,006 shares in the company, valued at approximately $1,065,138.70. This represents a 31.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 17,834 shares of company stock worth $1,900,331 in the last 90 days. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Flutter Entertainment

Several large investors have recently made changes to their positions in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after buying an additional 69 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Flutter Entertainment in the second quarter worth about $405,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Flutter Entertainment during the 2nd quarter worth about $848,000. Allworth Financial LP boosted its stake in shares of Flutter Entertainment by 116.4% during the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock worth $41,000 after acquiring an additional 78 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Flutter Entertainment by 31.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 860 shares of the company’s stock valued at $246,000 after acquiring an additional 204 shares during the period.

Flutter Entertainment Stock Down 1.5%

NYSE FLUT opened at $104.79 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. Flutter Entertainment has a 52 week low of $99.96 and a 52 week high of $313.68. The firm has a market capitalization of $18.37 billion, a price-to-earnings ratio of -58.22, a PEG ratio of 0.72 and a beta of 2.30. The company has a fifty day moving average of $141.50 and a two-hundred day moving average of $204.10.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the company posted $2.94 EPS. The company’s revenue was up 24.9% compared to the same quarter last year. On average, analysts predict that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has approved a stock buyback plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.