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

Shares of Flutter Entertainment PLC (NYSE:FLUT) have received an average rating of “Moderate Buy” from the thirty research firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $187.4167.

A number of equities analysts recently issued reports on FLUT shares. Needham & Company LLC decreased their price target on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Citizens Jmp reduced their target price on Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating on the stock in a report on Thursday, May 7th. Freedom Capital raised Flutter Entertainment to a “hold” rating in a research report on Monday, June 22nd. UBS Group lowered their target price on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Finally, Barclays reduced their price target 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.

Flutter Entertainment Stock Down 2.0%

Shares of Flutter Entertainment stock opened at $102.02 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The company’s fifty day simple moving average is $102.10 and its two-hundred day simple moving average is $134.56. The company has a market cap of $17.75 billion, a P/E ratio of -47.67, a PEG ratio of 1.35 and a beta of 1.40. Flutter Entertainment has a 12-month low of $91.52 and a 12-month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $1.59 EPS. Research analysts anticipate that Flutter Entertainment will post 5 EPS for the current year.

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

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 3,084 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the transaction, the chief executive officer owned 74,326 shares of the company’s stock, valued at approximately $7,293,610.38. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu sold 1,259 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total transaction of $117,552.83. Following the transaction, the insider owned 21,006 shares of the company’s stock, valued at $1,961,330.22. The trade was a 5.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Flutter Entertainment in the 4th quarter worth $694,009,000. Peregrine Capital Management LLC increased its position in Flutter Entertainment by 34.2% during the fourth quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock valued at $32,467,000 after acquiring an additional 38,469 shares during the last quarter. Hudson Bay Capital Management LP lifted its holdings in Flutter Entertainment by 6.2% in the third quarter. Hudson Bay Capital Management LP now owns 395,120 shares of the company’s stock valued at $100,360,000 after acquiring an additional 23,237 shares during the period. TimesSquare Capital Management LLC lifted its holdings in Flutter Entertainment by 5.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock valued at $85,818,000 after acquiring an additional 20,203 shares during the period. Finally, First Trust Advisors LP boosted its position in Flutter Entertainment by 3.4% in the third quarter. First Trust Advisors LP now owns 551,667 shares of the company’s stock worth $140,123,000 after purchasing an additional 17,913 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.