Flutter Entertainment (NYSE:FLUT) Lowered to Hold Rating by Kepler Capital Markets

Flutter Entertainment (NYSE:FLUT) was downgraded by equities research analysts at Kepler Capital Markets from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

FLUT has been the subject of a number of other research reports. Craig Hallum lowered shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, January 21st. Texas Capital raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, January 8th. Susquehanna reissued a “positive” rating and issued a $228.00 price target on shares of Flutter Entertainment in a research note on Tuesday, January 27th. Zacks Research downgraded shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, Citizens Jmp reduced their price target on shares of Flutter Entertainment from $275.00 to $195.00 and set a “market outperform” rating on the stock in a research report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.65.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $108.71 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $19.06 billion, a PE ratio of -60.39, a P/E/G ratio of 0.74 and a beta of 2.32. Flutter Entertainment has a fifty-two week low of $99.96 and a fifty-two week high of $313.68. The company has a fifty day moving average of $150.24 and a two-hundred day moving average of $208.30.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The business’s revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.94 EPS. As a group, research analysts forecast that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has initiated a share repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Amy Howe sold 8,895 shares of Flutter Entertainment stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total transaction of $942,069.45. Following the completion of the sale, the chief executive officer directly owned 78,889 shares of the company’s stock, valued at approximately $8,355,133.99. The trade was a 10.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the sale, the chief executive officer directly owned 36,788 shares of the company’s stock, valued at $3,973,104. This trade represents a 10.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 17,834 shares of company stock worth $1,900,331 over the last 90 days. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently modified their holdings of FLUT. Axxcess Wealth Management LLC increased its stake in Flutter Entertainment by 19.2% in the fourth quarter. Axxcess Wealth Management LLC now owns 3,085 shares of the company’s stock valued at $663,000 after purchasing an additional 497 shares during the period. Vident Advisory LLC boosted its stake in shares of Flutter Entertainment by 10.4% during the fourth quarter. Vident Advisory LLC now owns 1,608 shares of the company’s stock worth $346,000 after buying an additional 152 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Flutter Entertainment by 7.9% during the fourth quarter. Mackenzie Financial Corp now owns 12,620 shares of the company’s stock worth $2,739,000 after buying an additional 919 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Flutter Entertainment by 22.4% during the fourth quarter. NewEdge Advisors LLC now owns 753 shares of the company’s stock worth $162,000 after buying an additional 138 shares during the last quarter. Finally, XTX Topco Ltd increased its position in Flutter Entertainment by 90.0% in the 4th quarter. XTX Topco Ltd now owns 20,607 shares of the company’s stock valued at $4,431,000 after acquiring an additional 9,762 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.