Flutter Entertainment’s (FLUT) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Flutter Entertainment (NYSE:FLUT) in a report issued on Friday,Benzinga reports. They currently have a $138.00 price objective on the stock.

FLUT has been the subject of several other research reports. Citizens Jmp lowered their price target on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Freedom Capital upgraded shares of Flutter Entertainment to a “hold” rating in a research note on Monday, June 22nd. BTIG Research decreased their target price on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $167.00 target price on shares of Flutter Entertainment in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $178.83.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $106.73 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. Flutter Entertainment has a 1 year low of $91.52 and a 1 year high of $313.68. The business has a fifty day simple moving average of $102.66 and a 200 day simple moving average of $124.33. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of -49.87, a P/E/G ratio of 1.43 and a beta of 1.31.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) 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 firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the firm earned $1.59 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, sell-side analysts predict that Flutter Entertainment will post 4.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Flutter Entertainment

In other news, COO James Philip Bishop acquired 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $99.75 per share, with a total value of $99,750.00. Following the acquisition, the chief operating officer owned 17,605 shares of the company’s stock, valued at $1,756,098.75. This trade represents a 6.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carolan Lennon sold 439 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $41,542.57. Following the sale, the director directly owned 1,688 shares in the company, valued at $159,735.44. The trade was a 20.64% decrease in their position. 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 quarter, insiders acquired 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Capital International Investors increased its holdings 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 buying an additional 4,782,302 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $1,678,841,000. Caledonia Private Investments Pty Ltd boosted its position in shares of Flutter Entertainment by 3.8% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after acquiring an additional 264,856 shares in the last quarter. Hsbc Holdings PLC increased 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 acquiring an additional 5,589,099 shares during the period. Finally, Tiger Global Management LLC increased its stake in 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 acquiring an additional 345,350 shares during the period.

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.