Flutter Entertainment (NYSE:FLUT) Now Covered by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research note released on Wednesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $150.00 price target on the stock.

FLUT has been the subject of several other research reports. Stifel Nicolaus lowered their price objective on shares of Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Benchmark reduced their target price on shares of Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, July 8th. Wall Street Zen downgraded Flutter Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Wells Fargo & Company cut their price target on Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.76.

Flutter Entertainment Trading Up 5.3%

NYSE:FLUT opened at $102.13 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50-day simple moving average is $102.61 and its 200-day simple moving average is $104.92. Flutter Entertainment has a fifty-two week low of $89.71 and a fifty-two week high of $299.11. The stock has a market capitalization of $17.72 billion, a PE ratio of -23.75, a price-to-earnings-growth ratio of 2.46 and a beta of 1.26.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the business posted $2.95 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Flutter Entertainment will post 3.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total transaction of $197,091.84. Following the completion of the transaction, the chief executive officer owned 72,214 shares in the company, valued at approximately $6,739,010.48. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zions Bancorporation National Association UT increased its position in shares of Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in Flutter Entertainment by 83.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares during the last quarter. EFG International AG bought a new position in Flutter Entertainment in the fourth quarter valued at approximately $36,000. IFP Advisors Inc grew its stake in Flutter Entertainment by 93.8% in the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after purchasing an additional 90 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Flutter Entertainment by 246.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after purchasing an additional 133 shares during 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.