Flutter Entertainment (NYSE:FLUT) Trading Up 2.6% – Here’s What Happened

Flutter Entertainment PLC (NYSE:FLUT) rose 2.6% during mid-day trading on Tuesday . The stock traded as high as $195.77 and last traded at $196.1730. Approximately 256,833 shares were traded during trading, a decline of 89% from the average daily volume of 2,366,977 shares. The stock had previously closed at $191.11.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FLUT. Benchmark lowered their target price on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Truist Financial lowered their price objective on Flutter Entertainment from $335.00 to $305.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Canaccord Genuity Group reduced their target price on shares of Flutter Entertainment from $340.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Citigroup lowered shares of Flutter Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Citizens Jmp increased their price objective on shares of Flutter Entertainment from $340.00 to $345.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $317.67.

Flutter Entertainment Stock Performance

The company has a market capitalization of $34.07 billion, a P/E ratio of 95.52 and a beta of 1.84. The business has a 50 day moving average of $251.39 and a 200 day moving average of $268.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the firm earned $1.27 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase program on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the sale, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flutter Entertainment

Large investors have recently modified their holdings of the stock. ORG Partners LLC increased its position in Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. MML Investors Services LLC raised its position in Flutter Entertainment by 0.6% in the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after purchasing an additional 45 shares during the period. OneDigital Investment Advisors LLC lifted its stake in Flutter Entertainment by 1.2% in the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after purchasing an additional 49 shares during the last quarter. PARUS FINANCE UK Ltd boosted its position in shares of Flutter Entertainment by 1.5% during the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock valued at $742,000 after buying an additional 50 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Flutter Entertainment by 5.6% during the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after buying an additional 50 shares during the period.

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.