BTIG Research Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $110.00

Flutter Entertainment (NYSE:FLUT) had its target price cut by BTIG Research from $113.00 to $110.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Rothschild & Co Redburn restated a “neutral” rating and set a $119.00 target price (down from $169.00) on shares of Flutter Entertainment in a report on Monday, September 21st. UBS Group lowered their target price on Flutter Entertainment from $160.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. JPMorgan Chase & Co. started coverage on Flutter Entertainment in a report on Wednesday, August 12th. They issued a “neutral” rating and a $114.00 price target for the company. Finally, Wells Fargo & Company cut their price target on Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating for the company in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.37.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $74.91 on Thursday. The stock has a market capitalization of $13.00 billion, a price-to-earnings ratio of -17.42, a P/E/G ratio of 1.90 and a beta of 1.39. The firm’s 50-day moving average price is $95.77 and its two-hundred day moving average price is $101.14. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. Flutter Entertainment has a 1-year low of $73.50 and a 1-year high of $257.76.

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

Insider Transactions at Flutter Entertainment

In other news, COO James Bishop sold 741 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $72,514.26. Following the completion of the sale, the chief operating officer owned 16,864 shares in the company, valued at $1,650,311.04. The trade was a 4.21% decrease in their ownership of the stock. The transaction 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, CEO Daniel Taylor sold 791 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 value of $77,407.26. Following the transaction, the chief executive officer directly owned 52,467 shares in the company, valued at $5,134,420.62. This trade represents a 1.49% 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. In the last three months, insiders sold 6,681 shares of company stock worth $644,214. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Flutter Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. Capricorn Fund Managers Ltd bought a new stake in shares of Flutter Entertainment during the first quarter worth approximately $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Flutter Entertainment by 53.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock valued at $6,530,000 after acquiring an additional 22,270 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Flutter Entertainment by 286.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 52,805 shares of the company’s stock valued at $5,383,000 after acquiring an additional 39,133 shares during the last quarter. Sei Investments Co. grew its holdings in Flutter Entertainment by 28.7% during the 1st quarter. Sei Investments Co. now owns 74,851 shares of the company’s stock worth $7,631,000 after acquiring an additional 16,682 shares during the period. Finally, Delta Global Management LP acquired a new stake in Flutter Entertainment during the 1st quarter worth $1,461,000.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides online and retail betting, casino, poker, bingo and lottery-related products through a portfolio of brands serving customers in multiple regulated markets.

Its principal brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sky Bet in the United Kingdom, PokerStars internationally, Sisal in Italy and other markets, and tombola, an online bingo operator.