Flutter Entertainment PLC (NYSE:FLUT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Flutter Entertainment PLC (NYSE:FLUT) have earned an average rating of “Moderate Buy” from the twenty-nine research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $159.1250.

A number of research analysts have recently issued reports on FLUT shares. BNP Paribas Exane assumed coverage on shares of Flutter Entertainment in a research report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price target on the stock. Benchmark lowered 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. Moffett Nathanson lowered shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price on the stock. in a report on Friday, April 24th. JPMorgan Chase & Co. initiated coverage on shares of Flutter Entertainment in a research report on Wednesday, August 12th. They set a “neutral” rating and a $114.00 price target on the stock. Finally, BTIG Research decreased their price target on Flutter Entertainment from $120.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, August 5th.

Flutter Entertainment Price Performance

Shares of FLUT opened at $99.33 on Friday. Flutter Entertainment has a 1 year low of $89.71 and a 1 year high of $309.41. 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 company has a market capitalization of $17.24 billion, a price-to-earnings ratio of -23.10, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28. The business has a 50-day moving average of $103.36 and a 200-day moving average of $108.63.

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). The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.95 earnings per share. As a group, equities research analysts anticipate that Flutter Entertainment will post 3.48 earnings per share for the current year.

Insider Activity

In related news, Director Carolan Lennon sold 439 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $94.63, for a total transaction of $41,542.57. Following the sale, the director owned 1,688 shares in the company, valued at $159,735.44. This represents a 20.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 1,522 shares of company stock valued at $144,027. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors have recently added to or reduced their stakes in the business. MML Investors Services LLC grew its position in shares of Flutter Entertainment by 0.6% during the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after buying an additional 45 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after acquiring an additional 69 shares in the last quarter. Truist Financial Corp lifted its position in shares of Flutter Entertainment by 2.8% during the 4th quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock valued at $560,000 after acquiring an additional 72 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Flutter Entertainment by 83.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after acquiring an additional 75 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Flutter Entertainment by 0.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 9,119 shares of the company’s stock worth $1,961,000 after acquiring an additional 80 shares in 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.