Flutter Entertainment (NYSE:FLUT) Given Buy Rating at Needham & Company LLC

Flutter Entertainment (NYSE:FLUT)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $310.00 target price on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 17.51% from the company’s previous close.

Several other analysts have also recently issued reports on FLUT. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Benchmark restated a “buy” rating and set a $300.00 target price on shares of Flutter Entertainment in a report on Monday, April 21st. Sanford C. Bernstein started coverage on Flutter Entertainment in a research note on Wednesday, June 4th. They issued a “market perform” rating and a $275.00 price target for the company. Finally, Stifel Nicolaus decreased their price objective on shares of Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $303.79.

Flutter Entertainment Trading Up 0.1%

FLUT traded up $0.29 on Tuesday, hitting $263.81. 883,938 shares of the company were exchanged, compared to its average volume of 1,874,369. 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 firm has a fifty day simple moving average of $237.58 and a two-hundred day simple moving average of $253.61. The stock has a market capitalization of $46.61 billion and a PE ratio of 91.52. Flutter Entertainment has a 12 month low of $174.03 and a 12 month high of $299.73.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.30). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS. Sell-side analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current year.

Insiders Place Their Bets

In other Flutter Entertainment news, Director John A. Bryant sold 418 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $102,706.78. Following the completion of the sale, the director now owns 5,956 shares of the company’s stock, valued at approximately $1,463,448.76. The trade was a 6.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christine M. Mccarthy sold 264 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the transaction, the director now directly owns 559 shares in the company, valued at approximately $136,463.08. This represents a 32.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,770 shares of company stock valued at $1,894,934.

Hedge Funds Weigh In On Flutter Entertainment

Institutional investors have recently bought and sold shares of the stock. PARUS FINANCE UK Ltd grew its holdings in Flutter Entertainment by 1.5% during the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock valued at $742,000 after purchasing an additional 50 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Flutter Entertainment by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock valued at $407,000 after acquiring an additional 53 shares during the period. Harbor Investment Advisory LLC increased its holdings in Flutter Entertainment by 43.8% in the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after acquiring an additional 56 shares in the last quarter. Parallel Advisors LLC raised its stake in Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after acquiring an additional 60 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Flutter Entertainment by 1.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock valued at $1,060,000 after purchasing an additional 67 shares in the last quarter.

Flutter Entertainment Company Profile

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.