Flutter Entertainment (NYSE:FLUT) Rating Increased to Hold at Freedom Capital

Freedom Capital upgraded shares of Flutter Entertainment (NYSE:FLUT) to a hold rating in a research report released on Monday morning,Zacks.com reports.

A number of other research firms have also commented on FLUT. BTIG Research lowered their price objective on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. Sanford C. Bernstein dropped their price objective on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. BNP Paribas Exane started coverage on Flutter Entertainment in a report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price objective for the company. Finally, Needham & Company LLC decreased their target price on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.42.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $98.47 on Monday. The firm has a 50-day moving average price of $102.71 and a 200 day moving average price of $137.72. The firm has a market capitalization of $17.13 billion, a PE ratio of -46.02, a P/E/G ratio of 1.27 and a beta of 1.40. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment has a 52-week low of $91.52 and a 52-week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.59 EPS. On average, sell-side analysts anticipate that Flutter Entertainment will post 5 earnings per share for the current fiscal year.

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

Insider Activity at Flutter Entertainment

In related news, Director Carolan Lennon sold 439 shares of Flutter Entertainment stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $41,542.57. Following the transaction, the director directly owned 1,688 shares in the company, valued at $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 is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Philip Bishop bought 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $99.75 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the chief operating officer directly owned 17,605 shares of the company’s stock, valued at $1,756,098.75. This trade represents a 6.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors have recently bought and sold shares of the stock. MML Investors Services LLC lifted its stake in Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after buying an additional 45 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in shares of Flutter Entertainment by 1.2% in the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after acquiring an additional 49 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after acquiring an additional 69 shares during the period. Truist Financial Corp raised its holdings in shares of Flutter Entertainment by 2.8% during the fourth quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock valued at $560,000 after acquiring an additional 72 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after acquiring an additional 75 shares in 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.