Flutter Entertainment (NYSE:FLUT) Given Neutral Rating at Rothschild & Co Redburn

Rothschild & Co Redburn reaffirmed their neutral rating on shares of Flutter Entertainment (NYSE:FLUT) in a research note published on Monday morning, MarketBeat Ratings reports. They currently have a $119.00 price target on the stock, down from their previous price target of $169.00.

FLUT has been the topic of several other research reports. Wolfe Research began coverage on Flutter Entertainment in a report on Wednesday, September 2nd. They set an “outperform” rating and a $150.00 price objective on the stock. Citizens Jmp cut their target price on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $180.00 target price on shares of Flutter Entertainment in a research report on Sunday, August 9th. Wedbush decreased their price target on shares of Flutter Entertainment from $138.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Wells Fargo & Company lowered their price target on shares of 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 equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $155.48.

Flutter Entertainment Stock Down 2.9%

NYSE FLUT opened at $86.92 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a 50-day simple moving average of $100.27 and a 200 day simple moving average of $102.99. Flutter Entertainment has a twelve month low of $86.55 and a twelve month high of $287.44. The stock has a market cap of $15.08 billion, a PE ratio of -20.21, a PEG ratio of 2.27 and a beta of 1.26.

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

Insiders Place Their Bets

In related news, CEO Jeremy Jackson sold 2,112 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was 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 $6,739,010.48. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Taylor sold 791 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $77,407.26. Following the completion of the sale, the chief executive officer directly owned 52,467 shares in the company, valued at approximately $5,134,420.62. This represents a 1.49% 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. Insiders sold a total of 6,681 shares of company stock worth $644,214 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently made changes to their positions in FLUT. Tidal Investments LLC boosted its position in Flutter Entertainment by 39.3% in the second quarter. Tidal Investments LLC now owns 11,700 shares of the company’s stock valued at $1,195,000 after buying an additional 3,299 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Flutter Entertainment during the second quarter worth approximately $119,000. Allworth Financial LP raised its stake in shares of Flutter Entertainment by 167.8% in the second quarter. Allworth Financial LP now owns 557 shares of the company’s stock valued at $57,000 after acquiring an additional 349 shares during the last quarter. AlphaGrep UK Ltd bought a new position in shares of Flutter Entertainment in the second quarter valued at approximately $203,000. Finally, TD Waterhouse Canada Inc. boosted its holdings in shares of Flutter Entertainment by 65.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 630 shares of the company’s stock worth $67,000 after acquiring an additional 250 shares in the last quarter.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter’s portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.