Barclays Issues Positive Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUTGet Free Report) had its price target upped by analysts at Barclays from $150.00 to $151.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 38.52% from the company’s previous close.

Several other analysts also recently issued reports on FLUT. Truist Financial decreased their target price on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $167.00 price objective on shares of Flutter Entertainment in a research report on Friday, May 8th. Weiss Ratings restated a “sell (d)” rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Finally, Citizens Jmp reduced their price target on shares of Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Flutter Entertainment has an average rating of “Moderate Buy” and an average price target of $178.83.

Read Our Latest Stock Analysis on FLUT

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $109.01 on Thursday. The firm’s 50 day simple moving average is $101.89 and its two-hundred day simple moving average is $129.80. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $18.96 billion, a P/E ratio of -52.08, a P/E/G ratio of 1.40 and a beta of 1.31. Flutter Entertainment has a 1-year low of $91.52 and a 1-year high of $313.68.

Flutter Entertainment (NYSE:FLUTGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.09 by $0.13. The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $1.59 EPS. Research analysts expect that Flutter Entertainment will post 5 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Flutter Entertainment news, 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 sale, the chief executive officer directly owned 74,326 shares of the company’s stock, valued at $7,293,610.38. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu acquired 1,459 shares of the stock in a transaction dated Friday, May 8th. The stock was bought at an average cost of $102.78 per share, with a total value of $149,956.02. Following the completion of the purchase, the insider directly owned 22,265 shares in the company, valued at approximately $2,288,396.70. The trade was a 7.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors have recently made changes to their positions in FLUT. Versant Capital Management Inc raised its holdings in shares of Flutter Entertainment by 145.2% in the second quarter. Versant Capital Management Inc now owns 1,231 shares of the company’s stock worth $126,000 after buying an additional 729 shares during the period. CX Institutional boosted its stake in shares of Flutter Entertainment by 729.7% during the second quarter. CX Institutional now owns 531 shares of the company’s stock valued at $54,000 after purchasing an additional 467 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Flutter Entertainment by 66.8% in the first quarter. Pacer Advisors Inc. now owns 2,887 shares of the company’s stock worth $294,000 after purchasing an additional 1,156 shares during the last quarter. DV Trading LLC increased its stake in Flutter Entertainment by 609.4% in the 1st quarter. DV Trading LLC now owns 2,036 shares of the company’s stock worth $208,000 after buying an additional 1,749 shares during the period. Finally, Parallel Advisors LLC boosted its position in Flutter Entertainment by 489.7% in the 1st quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock valued at $47,000 after buying an additional 382 shares during the period.

Trending Headlines about Flutter Entertainment

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Flutter Entertainment Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Flutter Entertainment (NYSE:FLUT)

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