Flutter Entertainment (NYSE:FLUT) Price Target Cut to $120.00 by Analysts at BTIG Research

Flutter Entertainment (NYSE:FLUT) had its price target lowered by analysts at BTIG Research from $126.00 to $120.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 13.51% from the stock’s previous close.

Several other analysts have also recently commented on FLUT. Oppenheimer lowered their price target on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Wells Fargo & Company decreased their target price on shares of Flutter Entertainment from $168.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $167.00 target price on shares of Flutter Entertainment in a report on Friday, May 8th. Zacks Research raised shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Citizens Jmp cut their price target on shares of Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.00.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $105.72 on Tuesday. The company has a 50-day simple moving average of $103.60 and a 200-day simple moving average of $119.46. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $18.39 billion, a PE ratio of -49.40, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31. Flutter Entertainment has a 12 month low of $91.52 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the firm posted $1.59 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities analysts anticipate that Flutter Entertainment will post 4.72 earnings per share for the current year.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 3,084 shares of Flutter Entertainment 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 transaction, the chief executive officer directly owned 74,326 shares of the company’s stock, valued at $7,293,610.38. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Philip Bishop acquired 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price 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 trade represents a 6.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 10,453 shares of company stock worth $1,045,526 and sold 5,994 shares worth $577,293. 0.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zions Bancorporation National Association UT raised its position in Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares during the period. EFG International AG purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth about $36,000. IFP Advisors Inc boosted its position in shares of Flutter Entertainment by 93.8% in the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after buying an additional 90 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in shares of Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after buying an additional 75 shares in the last quarter. Finally, LM Advisors LLC acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $46,000.

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.