Barclays Forecasts Strong Price Appreciation for Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment (NYSE:FLUTGet Free Report) had its target price raised by stock analysts at Barclays from $150.00 to $151.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 38.52% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Stifel Nicolaus cut their target price on shares of Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday. Oppenheimer decreased their price objective on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Zacks Research raised shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Needham & Company LLC lowered their price target on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.83.

Read Our Latest Analysis on Flutter Entertainment

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $109.01 on Thursday. Flutter Entertainment has a twelve month low of $91.52 and a twelve month high of $313.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock has a fifty day simple moving average of $101.89 and a two-hundred day simple moving average of $129.80. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of -52.08, a P/E/G ratio of 1.40 and a beta of 1.31.

Flutter Entertainment (NYSE:FLUTGet Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm posted $1.59 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, analysts predict that Flutter Entertainment will post 5 EPS for the current fiscal year.

Flutter Entertainment announced that its board has approved a share buyback program on Wednesday, March 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In related news, CEO Daniel Mark Taylor acquired 1,611 shares of the stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the transaction, the chief executive officer owned 34,584 shares in the company, valued at approximately $3,260,925.36. This trade represents a 4.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carolan Lennon sold 439 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $94.63, for a total transaction of $41,542.57. Following the sale, the director owned 1,688 shares in the company, valued at approximately $159,735.44. This represents a 20.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have acquired 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors have recently modified their holdings of the business. Versant Capital Management Inc raised its holdings in Flutter Entertainment by 145.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,231 shares of the company’s stock worth $126,000 after purchasing an additional 729 shares during the period. CX Institutional lifted its position in shares of Flutter Entertainment by 729.7% during the 2nd quarter. CX Institutional now owns 531 shares of the company’s stock valued at $54,000 after buying an additional 467 shares in the last quarter. Pacer Advisors Inc. grew its stake in Flutter Entertainment by 66.8% in the 1st quarter. Pacer Advisors Inc. now owns 2,887 shares of the company’s stock valued at $294,000 after acquiring an additional 1,156 shares during the period. DV Trading LLC grew its stake in Flutter Entertainment by 609.4% in the 1st quarter. DV Trading LLC now owns 2,036 shares of the company’s stock valued at $208,000 after acquiring an additional 1,749 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Flutter Entertainment by 489.7% in the 1st quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock worth $47,000 after acquiring an additional 382 shares in the last quarter.

Key Stories Impacting Flutter Entertainment

Here are the key news stories impacting Flutter Entertainment this week:

About Flutter Entertainment

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Flutter Entertainment (NYSE:FLUT)

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