Flutter Entertainment (NYSE:FLUT) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Flutter Entertainment (NYSE:FLUT) to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 target price on shares of Flutter Entertainment in a research note on Tuesday, June 10th. Susquehanna reduced their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, March 5th. Benchmark reaffirmed a “buy” rating and issued a $300.00 target price on shares of Flutter Entertainment in a research note on Monday, April 21st. BTIG Research reduced their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays reduced their price objective on shares of Flutter Entertainment from $300.00 to $293.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $303.79.

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $263.94 on Wednesday. Flutter Entertainment has a 12-month low of $175.59 and a 12-month high of $299.73. The firm has a market capitalization of $46.63 billion and a price-to-earnings ratio of 91.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average of $246.14 and a 200-day moving average of $253.48.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly 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). Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the firm earned $0.10 EPS. Flutter Entertainment’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that Flutter Entertainment will post 4.17 earnings per share for the current year.

Insider Activity

In other Flutter Entertainment news, CEO Amy Howe sold 2,315 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $243.50, for a total value of $563,702.50. Following the transaction, the chief executive officer now directly owns 73,947 shares of the company’s stock, valued at $18,006,094.50. This represents a 3.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nancy Dubuc sold 265 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $244.96, for a total transaction of $64,914.40. Following the completion of the transaction, the director now directly owns 558 shares in the company, valued at approximately $136,687.68. This represents a 32.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,770 shares of company stock valued at $1,894,934.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLUT. Harvest Fund Management Co. Ltd bought a new position in Flutter Entertainment in the 4th quarter valued at about $25,000. Farther Finance Advisors LLC increased its holdings in shares of Flutter Entertainment by 585.7% during the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares during the period. GPS Wealth Strategies Group LLC increased its holdings in shares of Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock worth $26,000 after purchasing an additional 110 shares during the period. SVB Wealth LLC bought a new position in shares of Flutter Entertainment during the first quarter worth approximately $27,000. Finally, Parallel Advisors LLC increased its holdings in shares of Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after purchasing an additional 60 shares during the period.

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.