Flutter Entertainment PLC (NYSE:FLUT) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Flutter Entertainment PLC (NYSE:FLUT) have been given an average recommendation of “Moderate Buy” by the thirty-one analysts that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, seventeen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $144.70.

A number of research analysts recently issued reports on FLUT shares. 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 report on Thursday, August 6th. Citigroup raised shares of Flutter Entertainment from a “neutral” rating to a “buy” rating and dropped their target price for the company from $93.00 to $91.00 in a research report on Wednesday. Susquehanna cut their price target on Flutter Entertainment from $115.00 to $100.00 and set a “positive” rating on the stock in a research report on Thursday. Wall Street Zen lowered shares of Flutter Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Truist Financial cut their price target on Flutter Entertainment from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th.

Flutter Entertainment Stock Down 2.2%

NYSE:FLUT opened at $79.76 on Friday. The stock’s fifty day moving average is $92.98 and its two-hundred day moving average is $100.11. Flutter Entertainment has a 52 week low of $73.50 and a 52 week high of $255.26. The stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of -18.55, a price-to-earnings-growth ratio of 2.56 and a beta of 1.39. 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 released its 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). The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 earnings per share. Research analysts anticipate that Flutter Entertainment will post 3.48 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Daniel Taylor sold 791 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $77,407.26. Following the sale, the chief executive officer owned 52,467 shares of the company’s stock, valued at approximately $5,134,420.62. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu sold 565 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $55,290.90. Following the sale, the insider directly owned 20,441 shares in the company, valued at $2,000,356.26. This trade represents a 2.69% decrease in their position. 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. Over the last ninety days, insiders sold 6,681 shares of company stock worth $644,214. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the business. Parvus Asset Management Jersey Ltd purchased a new stake in Flutter Entertainment in the 2nd quarter valued at about $1,552,097,267. Capital International Investors grew its position in Flutter Entertainment by 146.8% in the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after acquiring an additional 4,782,302 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Flutter Entertainment by 33,988.7% during the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after purchasing an additional 5,589,099 shares in the last quarter. Cantillon Capital Management LLC increased its position in shares of Flutter Entertainment by 0.8% during the fourth quarter. Cantillon Capital Management LLC now owns 2,264,025 shares of the company’s stock worth $486,856,000 after acquiring an additional 16,929 shares during the last quarter. Finally, Amundi increased its holdings in Flutter Entertainment by 463.7% during the 1st quarter. Amundi now owns 2,059,906 shares of the company’s stock worth $210,007,000 after purchasing an additional 1,694,474 shares during the last quarter.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides online and retail betting, casino, poker, bingo and lottery-related products through a portfolio of brands serving customers in multiple regulated markets.

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, Sisal in Italy and other markets, and tombola, an online bingo operator.