Flutter Entertainment PLC (NYSE:FLUT) Receives $189.26 Consensus Price Target from Analysts

Flutter Entertainment PLC (NYSE:FLUT) has earned a consensus rating of “Moderate Buy” from the twenty-eight research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, fifteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $189.2609.

Several brokerages recently weighed in on FLUT. Susquehanna cut their price target on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research note on Tuesday, March 31st. BTIG Research cut their price target on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Company cut their price target on Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating for the company in a research note on Friday, May 8th. Benchmark cut their price target on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, Citizens Jmp cut their price target on Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating for the company in a research note on Thursday, May 7th.

Insider Transactions at Flutter Entertainment

In related news, CFO Robert Coldrake sold 4,613 shares of Flutter Entertainment stock in a transaction dated 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 transaction, the chief financial officer owned 10,006 shares in the company, valued at $1,065,138.70. The trade was a 31.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Bryant purchased 1,950 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average price of $102.86 per share, with a total value of $200,577.00. Following the purchase, the director owned 9,235 shares in the company, valued at $949,912.10. This represents a 26.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 23,828 shares worth $2,477,625. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently bought and sold shares of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Flutter Entertainment during the 2nd quarter worth approximately $405,000. Creative Planning purchased a new stake in Flutter Entertainment during the 2nd quarter worth approximately $296,000. Northwestern Mutual Wealth Management Co. increased its stake in Flutter Entertainment by 246.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after buying an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Flutter Entertainment by 74.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after buying an additional 106 shares in the last quarter.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $100.62 on Monday. The stock has a market cap of $17.50 billion, a PE ratio of -47.02, a price-to-earnings-growth ratio of 1.34 and a beta of 1.40. The business has a 50-day simple moving average of $102.40 and a 200-day simple moving average of $146.73. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment has a 52-week low of $91.52 and a 52-week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 EPS. On average, equities analysts expect that Flutter Entertainment will post 4.88 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback plan on Wednesday, March 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

About Flutter Entertainment

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.