Flutter Entertainment’s (FLUT) Outperform Rating Reiterated at Macquarie

Macquarie reaffirmed their outperform rating on shares of Flutter Entertainment (NYSE:FLUT) in a report released on Thursday morning,Benzinga reports. Macquarie currently has a $340.00 price target on the stock, up from their prior price target of $330.00.

Several other equities research analysts also recently weighed in on FLUT. Truist Financial decreased their target price on Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus lowered their price objective on shares of Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Peel Hunt upgraded shares of Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Barclays decreased their target price on shares of Flutter Entertainment from $308.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $300.00 price target on shares of Flutter Entertainment in a research note on Monday, April 21st. Twenty investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $306.28.

Flutter Entertainment Stock Down 2.7 %

FLUT opened at $234.76 on Thursday. The company has a market cap of $41.48 billion and a PE ratio of 81.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment has a 1 year low of $174.03 and a 1 year high of $299.73. The firm has a 50 day moving average price of $234.03 and a 200 day moving average price of $253.56.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the company earned $0.10 EPS. Flutter Entertainment’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current year.

Insider Activity at Flutter Entertainment

In related news, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the sale, the director now owns 21,148 shares in the company, valued at $5,539,930.08. This represents a 54.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Amy Howe sold 11,814 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the transaction, the chief executive officer now directly owns 62,941 shares in the company, valued at $16,396,130.50. This represents a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors boosted its holdings in shares of Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company’s stock valued at $3,986,968,000 after acquiring an additional 1,635,241 shares during the period. Vanguard Group Inc. boosted its stake in Flutter Entertainment by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock valued at $2,479,812,000 after purchasing an additional 299,300 shares during the period. Parvus Asset Management Europe Ltd acquired a new position in Flutter Entertainment during the 4th quarter valued at about $2,146,227,000. Norges Bank bought a new position in Flutter Entertainment in the 4th quarter worth about $946,681,000. Finally, FMR LLC increased its stake in shares of Flutter Entertainment by 0.8% in the fourth quarter. FMR LLC now owns 3,401,092 shares of the company’s stock valued at $881,349,000 after purchasing an additional 25,422 shares during the period.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.