Flutter Entertainment (NYSE:FLUT) Earns Buy Rating from Benchmark

Benchmark reiterated their buy rating on shares of Flutter Entertainment (NYSE:FLUT) in a research note released on Wednesday morning,Benzinga reports. Benchmark currently has a $365.00 price objective on the stock.

A number of other research firms have also weighed in on FLUT. Barclays raised their price target on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Stifel Nicolaus raised their price objective on shares of Flutter Entertainment from $353.00 to $356.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Bank of America raised their price objective on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Truist Financial raised their price objective on shares of Flutter Entertainment from $280.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, Oppenheimer raised their price objective on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $337.32.

Flutter Entertainment Price Performance

FLUT opened at $256.31 on Wednesday. The company has a fifty day simple moving average of $290.24 and a 200 day simple moving average of $266.36. The firm has a market cap of $45.14 billion, a price-to-earnings ratio of 126.26 and a beta of 1.91. Flutter Entertainment has a twelve month low of $196.88 and a twelve month high of $313.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.87. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. Flutter Entertainment’s revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities research analysts expect that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its board has approved a stock buyback plan on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the transaction, the chief executive officer directly owned 31,944 shares of the company’s stock, valued at approximately $9,341,064.48. The trade was a 6.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel Mark Taylor sold 15,283 shares of Flutter Entertainment stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the completion of the transaction, the insider directly owned 16,589 shares of the company’s stock, valued at $4,724,547.20. This trade represents a 47.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,396 shares of company stock valued at $6,759,745. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of Flutter Entertainment

Hedge funds have recently bought and sold shares of the company. GPS Wealth Strategies Group LLC lifted its position in Flutter Entertainment by 1,375.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. SVB Wealth LLC bought a new stake in Flutter Entertainment in the 1st quarter valued at about $27,000. ORG Partners LLC lifted its position in Flutter Entertainment by 300.0% in the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. Barrett & Company Inc. bought a new stake in Flutter Entertainment in the 2nd quarter valued at about $29,000. Finally, Parallel Advisors LLC lifted its position in Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock valued at $30,000 after purchasing an additional 60 shares during 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.