Flutter Entertainment PLC (NYSE:FLUT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Flutter Entertainment PLC (NYSE:FLUT) has been given an average rating of “Moderate Buy” by the twenty-nine brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, sixteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $176.2609.

Several equities analysts have commented on FLUT shares. Zacks Research raised Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Oppenheimer decreased their price target on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th. Stifel Nicolaus dropped their price objective on shares of Flutter Entertainment from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, Sanford C. Bernstein cut their price objective on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, May 7th.

Insiders Place Their Bets

In other Flutter Entertainment news, COO James Philip Bishop bought 1,000 shares of Flutter Entertainment stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $99.75 per share, with a total value of $99,750.00. Following the completion of the acquisition, the chief operating officer owned 17,605 shares in the company, valued at approximately $1,756,098.75. This represents a 6.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John A. Bryant acquired 1,950 shares of Flutter Entertainment stock in a transaction dated Friday, May 8th. The stock was bought at an average price of $102.86 per share, with a total value of $200,577.00. Following the completion of the purchase, the director directly owned 9,235 shares in the company, valued at $949,912.10. This represents a 26.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Flutter Entertainment in the 4th quarter worth $694,009,000. Peregrine Capital Management LLC raised its position in shares of Flutter Entertainment by 34.2% during the 4th quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock valued at $32,467,000 after buying an additional 38,469 shares in the last quarter. Capricorn Fund Managers Ltd bought a new position in shares of Flutter Entertainment in the 1st quarter valued at about $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Flutter Entertainment by 53.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock valued at $6,530,000 after acquiring an additional 22,270 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its position in Flutter Entertainment by 5.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock worth $85,818,000 after acquiring an additional 20,203 shares in the last quarter.

Flutter Entertainment Trading Up 4.4%

Shares of FLUT opened at $105.72 on Tuesday. The stock has a market capitalization of $18.39 billion, a P/E ratio of -49.40, a PEG ratio of 1.39 and a beta of 1.31. Flutter Entertainment has a twelve month low of $91.52 and a twelve month high of $313.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The firm has a fifty day simple moving average of $103.60 and a two-hundred day simple moving average of $119.46.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the company posted $1.59 EPS. Flutter Entertainment’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, research analysts anticipate that Flutter Entertainment will post 4.72 EPS for the current year.

About Flutter Entertainment

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.