Flutter Entertainment (NYSE:FLUT) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Flutter Entertainment (NYSE:FLUT) in a report issued on Wednesday, MarketBeat reports. The firm issued a neutral rating and a $114.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, July 8th. UBS Group decreased their target price on Flutter Entertainment from $160.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Zacks Research lowered shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Benchmark decreased their price objective on shares of Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Moffett Nathanson cut shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price objective for the company. in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.12.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $101.43 on Wednesday. The stock has a market cap of $17.60 billion, a price-to-earnings ratio of -23.59, a price-to-earnings-growth ratio of 1.84 and a beta of 1.28. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50 day moving average price of $104.17 and a 200-day moving average price of $110.59. Flutter Entertainment has a one year low of $89.71 and a one year high of $309.41.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company posted $2.95 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts expect that Flutter Entertainment will post 4.72 EPS for the current year.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, Director Carolan Lennon sold 439 shares of Flutter Entertainment stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $94.63, for a total transaction of $41,542.57. Following the completion of the sale, the director owned 1,688 shares of the company’s stock, valued at approximately $159,735.44. The trade was a 20.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,522 shares of company stock worth $144,027 in the last three months. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors have recently modified their holdings of FLUT. Cibc World Markets Corp purchased a new stake in shares of Flutter Entertainment during the 4th quarter worth about $1,678,841,000. Hsbc Holdings PLC increased its stake in shares of Flutter Entertainment by 33,988.7% during the first 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. Capital International Investors raised its position in shares of Flutter Entertainment by 146.8% during the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after purchasing an additional 4,782,302 shares during the last quarter. Norges Bank purchased a new stake in Flutter Entertainment during the 4th quarter worth approximately $694,009,000. Finally, Amundi raised its holdings in shares of Flutter Entertainment by 463.7% during the first quarter. Amundi now owns 2,059,906 shares of the company’s stock valued at $210,007,000 after acquiring an additional 1,694,474 shares during the last quarter.

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.