Flutter Entertainment (NYSE:FLUT) Sets New 1-Year Low – Should You Sell?

Flutter Entertainment PLC (NYSE:FLUT) shares hit a new 52-week low during trading on Friday . The company traded as low as $89.34 and last traded at $89.4720, with a volume of 6821461 shares trading hands. The stock had previously closed at $92.50.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of recent research reports. Barclays decreased their target price on Flutter Entertainment from $151.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, August 6th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Flutter Entertainment in a report on Thursday, September 3rd. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th. Citizens Jmp decreased their price objective on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft set a $148.00 price objective on Flutter Entertainment in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $156.88.

Flutter Entertainment Stock Performance

The company has a market capitalization of $15.53 billion, a P/E ratio of -20.81, a price-to-earnings-growth ratio of 2.47 and a beta of 1.26. The firm has a 50 day moving average price of $101.21 and a two-hundred day moving average price of $103.28. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89.

Flutter Entertainment (NYSE:FLUT) last posted 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 for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.Flutter Entertainment’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.95 EPS. On average, research analysts expect that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.

Insider Activity

In other Flutter Entertainment news, insider Don Liu sold 565 shares of Flutter Entertainment stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $55,290.90. Following the completion of the transaction, the insider directly owned 20,441 shares of the company’s stock, valued at approximately $2,000,356.26. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Taylor sold 791 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $77,407.26. Following the completion of the sale, the chief executive officer owned 52,467 shares in the company, valued at $5,134,420.62. This represents a 1.49% 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 ninety days, insiders sold 6,681 shares of company stock valued at $644,214. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors have recently added to or reduced their stakes in FLUT. IFP Advisors Inc grew its holdings in Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after acquiring an additional 90 shares during the last quarter. LM Advisors LLC bought a new position in shares of Flutter Entertainment in the fourth quarter worth about $46,000. Parallel Advisors LLC lifted its position in shares of Flutter Entertainment by 489.7% during the first quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock worth $47,000 after purchasing an additional 382 shares in the last quarter. CX Institutional lifted its position in shares of Flutter Entertainment by 729.7% during the second quarter. CX Institutional now owns 531 shares of the company’s stock worth $54,000 after purchasing an additional 467 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Flutter Entertainment by 167.8% during the second quarter. Allworth Financial LP now owns 557 shares of the company’s stock valued at $57,000 after purchasing an additional 349 shares during the last quarter.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter’s portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.