Flutter Entertainment (NYSE:FLUT) Given New $110.00 Price Target at JPMorgan Chase & Co.

Flutter Entertainment (NYSE:FLUT) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $114.00 to $110.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 41.36% from the stock’s previous close.

FLUT has been the subject of several other reports. New Street Research set a $110.00 price objective on Flutter Entertainment in a research note on Thursday, September 3rd. Needham & Company LLC decreased their price objective on Flutter Entertainment from $135.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Rothschild & Co Redburn reaffirmed a “neutral” rating and set a $119.00 target price (down from $169.00) on shares of Flutter Entertainment in a research note on Monday, September 21st. Freedom Capital raised shares of Flutter Entertainment to a “hold” rating in a research note on Monday, June 22nd. Finally, Wolfe Research started coverage on shares of Flutter Entertainment in a report on Wednesday, September 2nd. They set an “outperform” rating and a $150.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $142.70.

Flutter Entertainment Price Performance

Shares of FLUT traded up $0.43 during mid-day trading on Tuesday, hitting $77.81. 1,203,379 shares of the company were exchanged, compared to its average volume of 3,285,130. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of -18.12, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. Flutter Entertainment has a 1-year low of $72.56 and a 1-year high of $255.26. The company has a 50 day moving average of $90.46 and a 200-day moving average of $98.94. 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 quarterly earnings data on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. Analysts expect that Flutter Entertainment will post 3.48 EPS for the current fiscal year.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, COO James Bishop sold 741 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $72,514.26. Following the completion of the sale, the chief operating officer directly owned 16,864 shares of the company’s stock, valued at $1,650,311.04. This trade represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Coldrake sold 710 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $69,480.60. Following the completion of the sale, the chief financial officer directly owned 22,778 shares of the company’s stock, valued at $2,229,055.08. This trade represents a 3.02% decrease in their ownership of the stock. 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. Insiders have sold a total of 6,681 shares of company stock valued at $644,214 in the last three months. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC increased its position in Flutter Entertainment by 39.3% during the second quarter. Tidal Investments LLC now owns 11,700 shares of the company’s stock worth $1,195,000 after purchasing an additional 3,299 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Flutter Entertainment in the 2nd quarter valued at about $119,000. Allworth Financial LP boosted its holdings in Flutter Entertainment by 167.8% in the 2nd 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. AlphaGrep UK Ltd acquired a new position in Flutter Entertainment in the 2nd quarter valued at about $203,000. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Flutter Entertainment by 65.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 630 shares of the company’s stock valued at $67,000 after buying an additional 250 shares during the period.

Flutter Entertainment News Roundup

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: The restructuring could reduce operating costs and help offset higher tax expenses, potentially supporting margins and cash flow over time. Flutter Entertainment announces restructure of UKI business
• Neutral Sentiment: Flutter said the changes affect its UK and Ireland business, with the proposed reductions representing a major organizational overhaul. The company is expected to provide further details on implementation and financial impacts. Betting giant Flutter to cut up to 1,400 jobs
• Negative Sentiment: Up to 1,400 employees could lose their jobs, highlighting the severity of the cost pressure facing Flutter’s core UKI operations. The cuts may also create restructuring costs and execution risks before savings are realized. Flutter Entertainment to cut up to 1,400 UK and Ireland jobs
• Negative Sentiment: The announcement underscores concern about recently increased or forthcoming UK gambling taxes, which could pressure Flutter’s revenue, profitability and customer economics in the region. Investors may view the need for such substantial cuts as evidence that the UK market outlook has deteriorated. Flutter to cut up to 1,400 jobs amid UK tax pressures

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company operates a portfolio of betting, gaming, poker and daily fantasy sports brands, serving customers through online platforms, mobile applications and, in some markets, retail locations.

Its principal brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sky Bet in the United Kingdom, PokerStars internationally, and Sisal and SNAI in Italy.