Flutter Entertainment PLC (NYSE:FLUT) Stock Has Average Price Target of $155.37 According to Analysts

Flutter Entertainment PLC (NYSE:FLUT) has been given a consensus rating of “Moderate Buy” by the thirty-one analysts that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, seventeen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $155.37.

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating for the company in a report on Thursday, August 6th. Freedom Capital raised shares of Flutter Entertainment to a “hold” rating in a report on Monday, June 22nd. Rothschild & Co Redburn reissued a “neutral” rating and issued a $119.00 price target (down from $169.00) on shares of Flutter Entertainment in a report on Monday, September 21st. Wall Street Zen cut shares of Flutter Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, New Street Research set a $110.00 price objective on shares of Flutter Entertainment in a research note on Thursday, September 3rd.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $76.26 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50 day simple moving average is $94.52 and its two-hundred day simple moving average is $100.63. The stock has a market capitalization of $13.23 billion, a P/E ratio of -17.73, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. Flutter Entertainment has a one year low of $73.50 and a one year high of $255.26.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.49 earnings per share 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 during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm posted $2.95 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts forecast that Flutter Entertainment will post 3.48 EPS for the current year.

Insider Activity at Flutter Entertainment

In related news, CEO Jeremy Jackson sold 2,112 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total transaction of $197,091.84. Following the transaction, the chief executive officer owned 72,214 shares in the company, valued at $6,739,010.48. The trade was a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Taylor sold 791 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $77,407.26. Following the transaction, the chief executive officer directly owned 52,467 shares of the company’s stock, valued at $5,134,420.62. The trade was a 1.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 6,681 shares of company stock worth $644,214 over the last 90 days. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in FLUT. LM Advisors LLC bought a new stake in Flutter Entertainment in the fourth quarter valued at $46,000. Parallel Advisors LLC increased its position in Flutter Entertainment by 489.7% during the 1st quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock valued at $47,000 after purchasing an additional 382 shares during the period. CX Institutional raised its holdings in Flutter Entertainment by 729.7% in the 2nd quarter. CX Institutional now owns 531 shares of the company’s stock worth $54,000 after purchasing an additional 467 shares in the last quarter. Allworth Financial LP raised its holdings in Flutter Entertainment by 167.8% in the 2nd quarter. Allworth Financial LP now owns 557 shares of the company’s stock worth $57,000 after purchasing an additional 349 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Flutter Entertainment by 65.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 630 shares of the company’s stock worth $67,000 after purchasing an additional 250 shares during the period.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides online and retail betting, casino, poker, bingo and lottery-related products through a portfolio of brands serving customers in multiple regulated markets.

Its principal brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sky Bet in the United Kingdom, PokerStars internationally, Sisal in Italy and other markets, and tombola, an online bingo operator.