Flutter Entertainment (NYSE:FLUT) Earns Outperform Rating from Wedbush

Flutter Entertainment (NYSE:FLUT)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a report issued on Friday,Benzinga reports. They presently have a $138.00 price objective on the stock. Wedbush’s price target points to a potential upside of 27.53% from the company’s current price.

FLUT has been the subject of several other reports. Susquehanna lowered their price objective on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research note on Tuesday, March 31st. Zacks Research raised Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Freedom Capital upgraded Flutter Entertainment to a “hold” rating in a report on Monday, June 22nd. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target for the company. in a research report on Friday, April 24th. Finally, BNP Paribas Exane assumed coverage on shares of Flutter Entertainment in a research report on Thursday, May 14th. They set an “underperform” rating and a $80.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.83.

Flutter Entertainment Trading Down 1.6%

Shares of FLUT stock opened at $108.21 on Friday. The stock has a market capitalization of $18.83 billion, a price-to-earnings ratio of -50.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31. Flutter Entertainment has a 12-month low of $91.52 and a 12-month high of $313.68. The stock’s 50-day moving average price is $102.55 and its 200-day moving average price is $125.11. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm earned $1.59 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities research analysts predict that Flutter Entertainment will post 4.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeremy Peter Jackson sold 3,084 shares of Flutter Entertainment stock in a transaction on Monday, May 11th. The stock was sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the sale, the chief executive officer directly owned 74,326 shares in the company, valued at approximately $7,293,610.38. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu sold 1,259 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total transaction of $117,552.83. Following the sale, the insider directly owned 21,006 shares of the company’s stock, valued at $1,961,330.22. This represents a 5.65% decrease in their ownership of the stock. 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 90 days, insiders have bought 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 currently owned by company insiders.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. MassMutual Private Wealth & Trust FSB boosted its position in Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the period. Zions Bancorporation National Association UT increased its position in shares of Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the period. EFG International AG bought a new stake in shares of Flutter Entertainment during the fourth quarter valued at approximately $36,000. IFP Advisors Inc raised its stake in shares of Flutter Entertainment by 93.8% during the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after acquiring an additional 90 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares during the period.

About Flutter Entertainment

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.