Flutter Entertainment (NYSE:FLUT) Given New $137.00 Price Target at Wells Fargo & Company

Flutter Entertainment (NYSE:FLUT) had its target price decreased by Wells Fargo & Company from $168.00 to $137.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 28.36% from the stock’s previous close.

Several other research analysts have also weighed in on FLUT. Barclays increased their price objective on Flutter Entertainment from $150.00 to $151.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Zacks Research raised Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Needham & Company LLC reduced their price objective on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Oppenheimer decreased their target price on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Finally, BTIG Research lowered their target price on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.48.

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $106.73 on Monday. 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 $18.57 billion, a PE ratio of -49.87, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31. The firm’s 50-day moving average is $102.66 and its two-hundred day moving average is $124.33. Flutter Entertainment has a 12 month low of $91.52 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly 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. The business had revenue of $4.30 billion during 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 business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.59 EPS. Analysts predict that Flutter Entertainment will post 4.83 earnings per share for the current year.

Insider Activity

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 3,084 shares of the company’s stock in a transaction dated 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 owned 74,326 shares in the company, valued at $7,293,610.38. This represents a 3.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Carolan Lennon sold 439 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $41,542.57. Following the transaction, the director directly owned 1,688 shares of the company’s stock, valued at approximately $159,735.44. This represents a 20.64% 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 90 days, insiders bought 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.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of FLUT. Norges Bank purchased a new position in Flutter Entertainment during the 4th quarter worth approximately $694,009,000. Peregrine Capital Management LLC boosted its stake in Flutter Entertainment by 34.2% during the 4th quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock worth $32,467,000 after purchasing an additional 38,469 shares during the period. Capricorn Fund Managers Ltd purchased a new position in Flutter Entertainment during the 1st quarter worth $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Flutter Entertainment by 53.3% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock worth $6,530,000 after buying an additional 22,270 shares during the period. Finally, TimesSquare Capital Management LLC increased its position 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 acquiring an additional 20,203 shares during the period.

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.