Flutter Entertainment (NYSE:FLUT) Stock Rating Cut to “Hold” at Cfra

Flutter Entertainment (NYSE:FLUT) was downgraded by equities researchers at Cfra from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, FinViz reports. They presently have a $94.00 target price on the stock. Cfra’s price objective would indicate a potential upside of 14.59% from the company’s current price.

FLUT has been the subject of a number of other reports. Jefferies Financial Group reissued a “buy” rating and issued a $160.00 price target on shares of Flutter Entertainment in a report on Wednesday, November 4th. Benchmark reduced their target price on shares of Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Barclays reduced their price target on Flutter Entertainment from $133.00 to $125.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. Wells Fargo & Company cut their price target on Flutter Entertainment from $112.00 to $86.00 and set an “equal weight” rating for the company in a report on Thursday, November 5th. Finally, Rothschild & Co Redburn lowered shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $169.00 to $119.00 in a research note on Monday, September 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.75.

Flutter Entertainment Price Performance

Shares of NYSE FLUT traded up $0.04 during mid-day trading on Tuesday, hitting $82.03. 1,637,679 shares of the company’s stock traded hands, compared to its average volume of 3,275,145. The company has a market capitalization of $14.24 billion, a P/E ratio of -15.52, a PEG ratio of 3.00 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50-day moving average is $85.07 and its two-hundred day moving average is $104.39. Flutter Entertainment has a 1 year low of $72.56 and a 1 year high of $235.77.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.50). Flutter Entertainment had a negative net margin of 5.37% and a positive return on equity of 4.26%. The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the company earned $1.64 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Flutter Entertainment will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeremy Jackson sold 2,112 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total value of $197,091.84. Following the completion of the sale, the chief executive officer owned 72,214 shares of the company’s stock, valued at approximately $6,739,010.48. The trade was a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, 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 3,727 shares of the business’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $82.34, for a total value of $306,881.18. Following the completion of the sale, the chief executive officer directly owned 56,642 shares of the company’s stock, valued at $4,663,902.28. This represents a 6.17% decrease in their position. 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. Over the last 90 days, insiders sold 11,399 shares of company stock worth $1,032,694. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FLUT. Parvus Asset Management Jersey Ltd bought a new position in shares of Flutter Entertainment in the second quarter valued at about $1,552,097,267. Hsbc Holdings PLC lifted its stake in shares of Flutter Entertainment by 33,988.7% in the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after acquiring an additional 5,589,099 shares during the period. Amundi boosted its stake in Flutter Entertainment by 463.7% during the first quarter. Amundi now owns 2,059,906 shares of the company’s stock worth $210,007,000 after acquiring an additional 1,694,474 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Flutter Entertainment by 1.3% during the first quarter. Janus Henderson Group PLC now owns 1,601,605 shares of the company’s stock valued at $163,202,000 after buying an additional 20,810 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Flutter Entertainment by 7.1% in the 1st quarter. Swiss National Bank now owns 490,422 shares of the company’s stock worth $49,999,000 after acquiring an additional 32,480 shares during the last quarter.

Flutter Entertainment Company Profile

Flutter Entertainment is a global sports betting and gaming company that provides online and retail wagering, casino gaming and poker services. Its brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sportsbet in Australia, and PokerStars in international markets. The company serves customers across the United States, the United Kingdom and Ireland, Australia, and other international markets. Its offerings include online sports betting, iGaming products such as casino games, poker platforms, and, in some markets, betting shops.