BTIG Research Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $120.00

Flutter Entertainment (NYSE:FLUT) had its price objective decreased by BTIG Research from $126.00 to $120.00 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. BTIG Research currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Freedom Capital raised Flutter Entertainment to a “hold” rating in a research report on Monday, June 22nd. Sanford C. Bernstein dropped their target price on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Company reduced their price target on Flutter Entertainment from $168.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $167.00 price target on shares of Flutter Entertainment in a report on Friday, May 8th. Finally, BNP Paribas Exane began coverage on shares of Flutter Entertainment in a research report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.00.

Flutter Entertainment Stock Down 5.1%

Shares of Flutter Entertainment stock opened at $102.25 on Tuesday. The company has a fifty day moving average price of $104.15 and a 200 day moving average price of $117.17. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment has a twelve month low of $91.52 and a twelve month high of $313.68. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of -47.78, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the firm earned $1.59 EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities research analysts forecast that Flutter Entertainment will post 4.72 earnings per share for the current fiscal year.

Insider Transactions at Flutter Entertainment

In related news, CEO Daniel Mark Taylor purchased 1,611 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $94.29 per share, with a total value of $151,901.19. Following the completion of the acquisition, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. The trade was a 4.89% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $98.13, for a total transaction of $302,632.92. Following the transaction, the chief executive officer directly owned 74,326 shares in the company, valued at $7,293,610.38. The trade was a 3.98% 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. Over the last ninety days, insiders acquired 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Flutter Entertainment

A number of large investors have recently bought and sold shares of FLUT. Capital International Investors lifted its holdings in shares of Flutter Entertainment by 146.8% in the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after purchasing an additional 4,782,302 shares during the last quarter. Cibc World Markets Corp acquired a new position in Flutter Entertainment during the 4th quarter worth $1,678,841,000. Caledonia Private Investments Pty Ltd lifted its holdings in Flutter Entertainment by 3.8% in the fourth quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock worth $1,546,538,000 after purchasing an additional 264,856 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Flutter Entertainment by 33,988.7% in the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after acquiring an additional 5,589,099 shares during the period. Finally, Tiger Global Management LLC boosted its stake in Flutter Entertainment by 9.4% during the 4th quarter. Tiger Global Management LLC now owns 4,003,542 shares of the company’s stock valued at $860,922,000 after purchasing an additional 345,350 shares in the last quarter.

About Flutter Entertainment

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.