Analysts Set Flutter Entertainment PLC (NYSE:FLUT) Price Target at $159.12

Flutter Entertainment PLC (NYSE:FLUT) has received an average rating of “Moderate Buy” from the twenty-nine research firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $159.1250.

FLUT has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Flutter Entertainment in a report on Wednesday, May 27th. Sanford C. Bernstein cut their price target on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, May 7th. Jefferies Financial Group restated a “buy” rating and issued a $180.00 price target on shares of Flutter Entertainment in a research report on Sunday, August 9th. Wells Fargo & Company decreased their price objective on shares of Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating for the company in a research note on Thursday, August 6th. Finally, Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th.

Insider Activity

In other news, Director Carolan Lennon sold 439 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $41,542.57. Following the completion of the sale, the director owned 1,688 shares of the company’s stock, valued at $159,735.44. This trade represents a 20.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,522 shares of company stock valued at $144,027 in the last ninety days. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth approximately $694,009,000. Peregrine Capital Management LLC grew its position in Flutter Entertainment by 34.2% during the fourth quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock valued at $32,467,000 after purchasing an additional 38,469 shares in the last quarter. Capricorn Fund Managers Ltd purchased a new position in Flutter Entertainment during the first quarter valued at approximately $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Flutter Entertainment by 53.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock valued at $6,530,000 after buying an additional 22,270 shares during the period. Finally, TimesSquare Capital Management LLC increased its stake in Flutter Entertainment by 5.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock valued at $85,818,000 after buying an additional 20,203 shares during the period.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $96.44 on Friday. The stock’s fifty day simple moving average is $104.00 and its 200 day simple moving average is $109.63. The stock has a market capitalization of $16.74 billion, a price-to-earnings ratio of -22.43, a PEG ratio of 2.57 and a beta of 1.28. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.32. Flutter Entertainment has a 52-week low of $89.71 and a 52-week high of $309.41.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the company earned $2.95 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Flutter Entertainment will post 3.48 earnings per share for the current fiscal year.

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.