Barclays Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $293.00

Flutter Entertainment (NYSE:FLUT) had its price target decreased by Barclays from $300.00 to $293.00 in a research note released on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research firms also recently issued reports on FLUT. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Citizens Jmp dropped their target price on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Macquarie reaffirmed an “outperform” rating and set a $340.00 price target (up previously from $330.00) on shares of Flutter Entertainment in a research report on Thursday. JMP Securities lowered their price objective on shares of Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating on the stock in a report on Monday, April 14th. Finally, Truist Financial reduced their target price on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Buy” and an average target price of $306.28.

Flutter Entertainment Price Performance

NYSE FLUT opened at $234.76 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $41.48 billion and a price-to-earnings ratio of 81.23. The business has a 50 day simple moving average of $234.03 and a 200 day simple moving average of $253.56. Flutter Entertainment has a 52-week low of $174.03 and a 52-week high of $299.73.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the sale, the director now owns 21,148 shares in the company, valued at approximately $5,539,930.08. This trade represents a 54.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amy Howe sold 11,814 shares of Flutter Entertainment stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the sale, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at $16,396,130.50. The trade was a 15.80 % decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. grew its position in shares of Flutter Entertainment by 58.8% in the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in Flutter Entertainment by 64.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares during the period. PARUS FINANCE UK Ltd grew its holdings in Flutter Entertainment by 1.5% in the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock valued at $742,000 after buying an additional 50 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Flutter Entertainment by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock worth $407,000 after buying an additional 53 shares during the period. Finally, Seelaus Asset Management LLC lifted its holdings in shares of Flutter Entertainment by 6.4% during the fourth quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock worth $236,000 after buying an additional 55 shares in the last quarter.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.