Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $159.00 at Citizens Jmp

Flutter Entertainment (NYSE:FLUT) had its price objective cut by analysts at Citizens Jmp from $165.00 to $159.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective would suggest a potential upside of 46.94% from the company’s previous close.

Several other brokerages have also recently commented on FLUT. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $167.00 target price on shares of Flutter Entertainment in a report on Friday, May 8th. Moffett Nathanson downgraded shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target for the company. in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. Sanford C. Bernstein reduced their target price on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Finally, Wells Fargo & Company upped their price target on Flutter Entertainment from $161.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, June 12th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $178.78.

Flutter Entertainment Stock Performance

FLUT opened at $108.21 on Wednesday. The firm has a market cap of $18.82 billion, a PE ratio of -50.56, a P/E/G ratio of 1.39 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The business has a fifty day simple moving average of $101.88 and a 200-day simple moving average of $130.57. Flutter Entertainment has a fifty-two week low of $91.52 and a fifty-two week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. Flutter Entertainment’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities analysts predict that Flutter Entertainment will post 5 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a stock repurchase program on Wednesday, March 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, insider Don H. Liu sold 1,259 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total value of $117,552.83. Following the completion of the sale, the insider directly owned 21,006 shares in the company, valued at $1,961,330.22. The trade was a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the sale, the chief executive officer directly owned 74,326 shares of the company’s stock, valued at $7,293,610.38. This represents a 3.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders acquired 10,453 shares of company stock worth $1,045,526 and sold 5,994 shares worth $577,293. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB raised its holdings in Flutter Entertainment by 219.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Zions Bancorporation National Association UT boosted its stake in shares of Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares in the last quarter. EFG International AG acquired a new position in shares of Flutter Entertainment during the 4th quarter valued at about $36,000. IFP Advisors Inc raised its stake in shares of Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after acquiring an additional 90 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter.

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.