Flutter Entertainment (NYSE:FLUT) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Flutter Entertainment (NYSE:FLUT) to a hold rating in a report published on Monday morning,Zacks.com reports.

Other analysts have also issued reports about the company. Moffett Nathanson lowered Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a report on Friday, April 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Barclays cut their target price on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Wells Fargo & Company upped their price target on Flutter Entertainment from $161.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $167.00 price target on shares of Flutter Entertainment in a research note on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $187.42.

Flutter Entertainment Trading Up 0.6%

Shares of NYSE:FLUT opened at $98.47 on Monday. Flutter Entertainment has a 12 month low of $91.52 and a 12 month high of $313.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The company’s fifty day simple moving average is $102.71 and its 200 day simple moving average is $137.72. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of -46.02, a PEG ratio of 1.27 and a beta of 1.40.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 EPS. As a group, research analysts forecast that Flutter Entertainment will post 5 EPS for the current fiscal year.

Flutter Entertainment declared that its board has authorized a share buyback plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, COO James Philip Bishop bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $99.75 per share, with a total value of $99,750.00. Following the completion of the purchase, the chief operating officer owned 17,605 shares of the company’s stock, valued at $1,756,098.75. This represents a 6.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the business’s stock in a transaction on 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 owned 74,326 shares in the company, valued at approximately $7,293,610.38. The trade was a 3.98% decrease in their ownership of the stock. 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 three months, insiders have acquired 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLUT. Capital International Investors lifted its stake in Flutter Entertainment by 146.8% in the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $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 fourth quarter worth approximately $1,678,841,000. Caledonia Private Investments Pty Ltd raised its stake 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 valued at $1,546,538,000 after buying an additional 264,856 shares during the period. Hsbc Holdings PLC raised its stake in Flutter Entertainment by 33,988.7% in the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after buying an additional 5,589,099 shares during the period. Finally, Tiger Global Management LLC lifted its position in shares of Flutter Entertainment by 9.4% in the fourth quarter. Tiger Global Management LLC now owns 4,003,542 shares of the company’s stock valued at $860,922,000 after buying an additional 345,350 shares during the last quarter.

Flutter Entertainment Company Profile

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.