Flutter Entertainment (NYSE:FLUT) Hits New 52-Week Low on Analyst Downgrade

Flutter Entertainment PLC (NYSE:FLUT)’s stock price hit a new 52-week low during trading on Friday after Barclays lowered their price target on the stock from $352.00 to $325.00. Barclays currently has an overweight rating on the stock. Flutter Entertainment traded as low as $193.27 and last traded at $199.5560, with a volume of 1668998 shares changing hands. The stock had previously closed at $201.00.

FLUT has been the topic of several other reports. UBS Group reaffirmed a “buy” rating and issued a $360.00 price objective (up from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Flutter Entertainment in a report on Wednesday, October 8th. Zacks Research downgraded shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Citizens Jmp increased their price objective on shares of Flutter Entertainment from $340.00 to $345.00 and gave the stock a “market outperform” rating in a research report on Thursday. Finally, Macquarie lifted their target price on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $319.22.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the transaction, the chief executive officer owned 69,850 shares of the company’s stock, valued at $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the transaction, the chief executive officer directly owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FLUT. Vident Advisory LLC raised its position in Flutter Entertainment by 51.8% in the third quarter. Vident Advisory LLC now owns 1,456 shares of the company’s stock worth $370,000 after acquiring an additional 497 shares in the last quarter. Ossiam lifted its stake in Flutter Entertainment by 266.1% during the third quarter. Ossiam now owns 178,946 shares of the company’s stock valued at $45,513,000 after purchasing an additional 130,065 shares during the last quarter. Dnca Finance boosted its holdings in Flutter Entertainment by 12.2% during the third quarter. Dnca Finance now owns 281,047 shares of the company’s stock worth $73,175,000 after buying an additional 30,596 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Flutter Entertainment in the third quarter valued at $160,020,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after acquiring an additional 75 shares during the last quarter.

Flutter Entertainment Stock Down 0.7%

The company has a market capitalization of $35.13 billion, a price-to-earnings ratio of 98.27 and a beta of 1.84. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $255.25 and a 200-day moving average price of $268.50.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.Flutter Entertainment’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted $1.27 EPS. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment declared that its board has authorized a stock repurchase program on Friday, August 8th that permits the company to repurchase $245.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About Flutter Entertainment

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.