Flutter Entertainment (NYSE:FLUT) Hits New 52-Week Low – What’s Next?

Flutter Entertainment PLC (NYSE:FLUT) shares hit a new 52-week low on Thursday . The stock traded as low as $189.40 and last traded at $193.3760, with a volume of 1707499 shares trading hands. The stock had previously closed at $193.19.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings cut Flutter Entertainment from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, November 13th. Citigroup cut Flutter Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, November 4th. Sanford C. Bernstein dropped their price objective on shares of Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. JMP Securities decreased their target price on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating on the stock in a research report on Wednesday, October 1st. Finally, Bank of America restated a “neutral” rating and issued a $250.00 target price (down from $325.00) on shares of Flutter Entertainment in a report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $317.67.

Flutter Entertainment Trading Up 0.1%

The company has a market capitalization of $33.89 billion, a PE ratio of 95.26 and a beta of 1.84. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The business has a fifty day moving average price of $247.45 and a 200 day moving average price of $267.37.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87. The business had revenue of $3.79 billion during 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%.The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 EPS. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a share repurchase plan on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 0.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer owned 69,850 shares of the company’s stock, valued at $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Partners LLC increased its holdings in Flutter Entertainment by 300.0% in the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares in the last quarter. Barrett & Company Inc. acquired a new position in shares of Flutter Entertainment during the second quarter worth about $29,000. JFS Wealth Advisors LLC purchased a new stake in shares of Flutter Entertainment in the third quarter worth about $27,000. SVB Wealth LLC acquired a new stake in shares of Flutter Entertainment in the first quarter valued at about $27,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Flutter Entertainment in the third quarter valued at about $32,000.

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.