Flutter Entertainment PLC (NYSE:FLUT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Flutter Entertainment PLC (NYSE:FLUT) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $214.40.

Several brokerages have issued reports on FLUT. Benchmark lowered their price target on shares of Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Texas Capital upgraded Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. Susquehanna lowered their target price on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating on the stock in a research report on Tuesday, March 31st. Kepler Capital Markets lowered Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 21st.

Insiders Place Their Bets

In other news, CEO Jeremy Peter Jackson sold 4,326 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total value of $467,208.00. Following the sale, the chief executive officer directly owned 36,788 shares of the company’s stock, valued at approximately $3,973,104. This represents a 10.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Coldrake sold 4,613 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total transaction of $491,053.85. Following the completion of the sale, the chief financial officer owned 10,006 shares of the company’s stock, valued at $1,065,138.70. This trade represents a 31.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,834 shares of company stock valued at $1,900,331. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Flutter Entertainment

A number of hedge funds have recently made changes to their positions in the business. Makena Capital Management LLC bought a new position in Flutter Entertainment during the third quarter worth $11,517,000. TimesSquare Capital Management LLC raised its position in shares of Flutter Entertainment by 294.1% in the third quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after purchasing an additional 282,736 shares during the period. AGF Management Ltd. bought a new position in shares of Flutter Entertainment in the third quarter valued at about $9,519,000. Mutual of America Capital Management LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $2,173,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $169,777,000.

Flutter Entertainment Price Performance

Shares of FLUT opened at $109.98 on Friday. The stock has a market capitalization of $19.18 billion, a P/E ratio of -61.10, a P/E/G ratio of 0.79 and a beta of 1.93. Flutter Entertainment has a twelve month low of $98.88 and a twelve month high of $313.68. The company has a 50 day moving average of $113.23 and a 200-day moving average of $178.49. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Friday, February 27th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the firm earned $2.94 EPS. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities research analysts forecast that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its board has authorized a stock repurchase plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.