Wells Fargo & Company Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $137.00

Flutter Entertainment (NYSE:FLUT) had its target price lowered by Wells Fargo & Company from $168.00 to $137.00 in a research report released on Monday morning, Marketbeat reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages also recently commented on FLUT. Susquehanna lowered their target price on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating on the stock in a research note on Tuesday, March 31st. UBS Group decreased their price target on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Citizens Jmp decreased their price target on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a report on Wednesday, July 8th. Moffett Nathanson lowered Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price objective on the stock. in a research report on Friday, April 24th. Finally, Stifel Nicolaus dropped their price objective on shares of Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.26.

Flutter Entertainment Trading Down 1.0%

NYSE FLUT opened at $99.94 on Monday. Flutter Entertainment has a 1 year low of $91.52 and a 1 year high of $313.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $17.39 billion, a PE ratio of -46.70, a P/E/G ratio of 1.35 and a beta of 1.31. The company has a fifty day moving average of $103.11 and a 200 day moving average of $121.93.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate 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 positive return on equity of 11.60% and a negative net margin of 2.20%.The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $1.59 EPS. Research analysts forecast that Flutter Entertainment will post 4.83 earnings per share for the current year.

Insider Buying and Selling

In other Flutter Entertainment news, insider Don H. Liu acquired 1,459 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $102.78 per share, for a total transaction of $149,956.02. Following the completion of the transaction, the insider directly owned 22,265 shares of the company’s stock, valued at $2,288,396.70. This represents a 7.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $98.13, for a total value of $302,632.92. Following the transaction, the chief executive officer directly owned 74,326 shares of the company’s stock, valued at approximately $7,293,610.38. The trade was a 3.98% 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. In the last ninety days, 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 owned by company insiders.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its holdings in Flutter Entertainment by 145.2% during the second quarter. Versant Capital Management Inc now owns 1,231 shares of the company’s stock valued at $126,000 after purchasing an additional 729 shares in the last quarter. CX Institutional raised 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 worth $54,000 after purchasing an additional 467 shares during the last quarter. Pacer Advisors Inc. lifted 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 buying an additional 1,156 shares in the last quarter. DV Trading LLC lifted 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 buying an additional 1,749 shares in the last quarter. Finally, Parallel Advisors LLC boosted 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 buying an additional 382 shares during the last quarter.

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.