Flutter Entertainment (NYSE:FLUT) Stock Price Target Lowered at Oppenheimer

Flutter Entertainment (NYSE:FLUT) had its price target lowered by investment analysts at Oppenheimer from $120.00 to $110.00 in a report released on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer‘s price objective indicates a potential upside of 25.32% from the company’s previous close.

Several other equities research analysts have also recently issued reports on FLUT. Craig Hallum set a $95.00 target price on shares of Flutter Entertainment in a research note on Friday, October 23rd. Jefferies Financial Group reissued a “buy” rating and set a $180.00 price objective on shares of Flutter Entertainment in a research report on Sunday, August 9th. JPMorgan Chase & Co. lowered their price target on Flutter Entertainment from $114.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, October 20th. Wells Fargo & Company lowered their target price on 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, Wall Street Zen lowered shares of Flutter Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.44.

Flutter Entertainment Stock Performance

Shares of FLUT stock traded up $5.18 on Monday, hitting $87.77. The company had a trading volume of 1,389,103 shares, compared to its average volume of 3,234,574. Flutter Entertainment has a twelve month low of $72.56 and a twelve month high of $235.77. The firm has a market cap of $15.23 billion, a P/E ratio of -20.43, a price-to-earnings-growth ratio of 2.75 and a beta of 1.27. The company has a 50-day moving average price of $87.11 and a 200-day moving average price of $107.68. 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 (NYSE:FLUT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%. Flutter Entertainment’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 EPS. As a group, equities research analysts predict that Flutter Entertainment will post 3.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, insider Don H. Liu sold 565 shares of the firm’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 $55,290.90. Following the sale, the insider owned 20,441 shares in the company, valued at approximately $2,000,356.26. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Coldrake sold 710 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $69,480.60. Following the completion of the transaction, the chief financial officer owned 22,778 shares of the company’s stock, valued at $2,229,055.08. This trade represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 6,681 shares of company stock valued at $644,214. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

A number of large investors have recently made changes to their positions in the company. Parvus Asset Management Jersey Ltd purchased a new stake in Flutter Entertainment in the 2nd quarter worth approximately $1,552,097,267. Hsbc Holdings PLC grew its holdings in shares of Flutter Entertainment by 33,988.7% during the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after purchasing an additional 5,589,099 shares in the last quarter. Amundi increased its holdings in Flutter Entertainment by 463.7% in the 1st quarter. Amundi now owns 2,059,906 shares of the company’s stock valued at $210,007,000 after buying an additional 1,694,474 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Flutter Entertainment by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,601,605 shares of the company’s stock worth $163,202,000 after buying an additional 20,810 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Flutter Entertainment by 7.1% during the 1st quarter. Swiss National Bank now owns 490,422 shares of the company’s stock worth $49,999,000 after buying an additional 32,480 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 operates a portfolio of betting, gaming, poker and daily fantasy sports brands, serving customers through online platforms, mobile applications and, in some markets, retail locations.

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, and Sisal and SNAI in Italy.