Flutter Entertainment PLC (NYSE:FLUT) Given Consensus Rating of “Moderate Buy” by Brokerages

Flutter Entertainment PLC (NYSE:FLUT) has been assigned an average recommendation of “Moderate Buy” from the thirty research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, seventeen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $156.8846.

A number of brokerages have recently weighed in on FLUT. Wedbush dropped their price objective on shares of Flutter Entertainment from $138.00 to $126.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Freedom Capital raised Flutter Entertainment to a “hold” rating in a research report on Monday, June 22nd. New Street Research set a $110.00 price target on Flutter Entertainment in a research note on Thursday, September 3rd. Wells Fargo & Company cut their price objective on Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flutter Entertainment in a report on Monday, August 24th.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $100.58 on Wednesday. The company has a 50 day moving average price of $102.16 and a 200 day moving average price of $103.81. The firm has a market capitalization of $17.46 billion, a P/E ratio of -23.39, a PEG ratio of 2.55 and a beta of 1.26. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.32. Flutter Entertainment has a 52 week low of $89.71 and a 52 week high of $289.60.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Thursday, August 6th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 EPS. Sell-side analysts expect that Flutter Entertainment will post 3.48 EPS for the current year.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, insider Don Liu sold 565 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $55,290.90. Following the completion of the sale, the insider directly owned 20,441 shares in the company, valued at approximately $2,000,356.26. The trade was a 2.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Coldrake sold 710 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $69,480.60. Following the completion of the sale, the chief financial officer directly owned 22,778 shares in the company, valued at $2,229,055.08. This trade represents a 3.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 6,681 shares of company stock worth $644,214. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Flutter Entertainment during the fourth quarter worth about $694,009,000. Capricorn Fund Managers Ltd acquired a new position in Flutter Entertainment in the first quarter valued at approximately $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Flutter Entertainment by 53.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock worth $6,530,000 after purchasing an additional 22,270 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Flutter Entertainment by 286.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 52,805 shares of the company’s stock worth $5,383,000 after purchasing an additional 39,133 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its stake in shares of Flutter Entertainment by 5.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock worth $85,818,000 after purchasing an additional 20,203 shares during the period.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter’s portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.