Flutter Entertainment PLC (NYSE:FLUT) Receives $189.26 Average Target Price from Brokerages

Shares of Flutter Entertainment PLC (NYSE:FLUT) have been assigned an average rating of “Moderate Buy” from the twenty-eight analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $189.2609.

A number of brokerages have weighed in on FLUT. Wells Fargo & Company lowered their price objective on Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Sanford C. Bernstein lowered their price objective 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. Needham & Company LLC lowered their price objective on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Stifel Nicolaus lowered their price objective on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, Barclays lowered their price objective on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 8th.

Flutter Entertainment Price Performance

Shares of FLUT opened at $100.62 on Monday. Flutter Entertainment has a twelve month low of $91.52 and a twelve month high of $313.68. The stock’s 50 day moving average is $102.40 and its two-hundred day moving average is $146.42. The firm has a market capitalization of $17.50 billion, a PE ratio of -47.02, a P/E/G ratio of 1.33 and a beta of 1.40. 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 (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the company earned $1.59 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. Research analysts anticipate that Flutter Entertainment will post 4.88 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a stock buyback program on Wednesday, March 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Daniel Mark Taylor purchased 1,611 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $94.29 per share, with a total value of $151,901.19. Following the purchase, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at $3,260,925.36. The trade was a 4.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Don H. Liu sold 1,259 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total value of $117,552.83. Following the sale, the insider directly owned 21,006 shares in the company, valued at $1,961,330.22. This trade represents a 5.65% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 23,828 shares worth $2,477,625. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors have recently modified their holdings of FLUT. Makena Capital Management LLC purchased a new position in shares of Flutter Entertainment during the 3rd quarter worth $11,517,000. TimesSquare Capital Management LLC lifted its stake in shares of Flutter Entertainment by 294.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock worth $96,235,000 after purchasing an additional 282,736 shares during the period. Norges Bank purchased a new position in shares of Flutter Entertainment during the 4th quarter worth $694,009,000. AGF Management Ltd. purchased a new position in shares of Flutter Entertainment during the 3rd quarter worth $9,519,000. Finally, Mutual of America Capital Management LLC purchased a new position in shares of Flutter Entertainment during the 3rd quarter worth $2,173,000.

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.