Oppenheimer Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price target reduced by research analysts at Oppenheimer from $120.00 to $110.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer‘s price target points to a potential upside of 25.32% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Craig Hallum set a $95.00 price target on Flutter Entertainment in a research report on Friday, October 23rd. Wells Fargo & Company decreased their target price on Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 6th. Stifel Nicolaus lowered their price target on shares of Flutter Entertainment from $133.00 to $125.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. Benchmark dropped their price objective on shares of Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Needham & Company LLC cut their price objective on shares of Flutter Entertainment from $135.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.44.

Flutter Entertainment Trading Up 6.3%

FLUT stock traded up $5.18 during midday trading on Monday, reaching $87.77. The company’s stock had a trading volume of 1,389,103 shares, compared to its average volume of 3,234,574. 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 has a 52 week low of $72.56 and a 52 week high of $235.77. The business’s 50-day simple moving average is $87.11 and its 200-day simple moving average is $107.68. The stock has a market cap of $15.23 billion, a PE ratio of -20.43, a price-to-earnings-growth ratio of 2.75 and a beta of 1.27.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.95 EPS. As a group, sell-side analysts expect that Flutter Entertainment will post 3.35 EPS for the current year.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CFO Robert Coldrake sold 710 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $69,480.60. Following the sale, the chief financial officer directly owned 22,778 shares in the company, valued at $2,229,055.08. This represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Jackson sold 1,762 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $172,429.32. Following the sale, the chief executive officer owned 70,452 shares of the company’s stock, valued at $6,894,432.72. The trade was a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 6,681 shares of company stock valued at $644,214 over the last three months. 0.13% of the stock is owned by insiders.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vise Technologies Inc. acquired a new position in Flutter Entertainment in the 3rd quarter valued at approximately $206,000. Independence Bank of Kentucky grew its stake in shares of Flutter Entertainment by 45.0% in the 3rd quarter. Independence Bank of Kentucky now owns 14,615 shares of the company’s stock valued at $1,089,000 after buying an additional 4,535 shares during the period. Tidal Investments LLC raised its position in shares of Flutter Entertainment by 39.3% during the second quarter. Tidal Investments LLC now owns 11,700 shares of the company’s stock worth $1,195,000 after purchasing an additional 3,299 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Flutter Entertainment during the second quarter valued at about $119,000. Finally, Allworth Financial LP boosted its position in shares of Flutter Entertainment by 167.8% during the second quarter. Allworth Financial LP now owns 557 shares of the company’s stock valued at $57,000 after buying an additional 349 shares during the last quarter.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company operates a portfolio of betting, gaming, poker and daily fantasy sports brands, serving customers through online platforms, mobile applications and, in some markets, retail locations.

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, and Sisal and SNAI in Italy.