Stifel Nicolaus Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $330.00

Flutter Entertainment (NYSE:FLUT) had its price target trimmed by Stifel Nicolaus from $339.00 to $330.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

FLUT has been the subject of a number of other research reports. UBS Group reissued a “buy” rating and issued a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Oppenheimer dropped their price target on shares of Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Peel Hunt lowered shares of Flutter Entertainment from an “add” rating to a “hold” rating in a research report on Friday, August 8th. Needham & Company LLC lowered their price objective on Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Citizens Jmp lifted their target price on Flutter Entertainment from $340.00 to $345.00 and gave the company a “market outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $319.22.

Flutter Entertainment Trading Down 1.0%

Shares of Flutter Entertainment stock opened at $198.97 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $253.33 and its 200-day simple moving average is $268.45. The stock has a market cap of $35.04 billion, a P/E ratio of 98.01 and a beta of 1.84. Flutter Entertainment has a 1-year low of $193.27 and a 1-year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $2.92 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. Flutter Entertainment has set its FY 2025 guidance at EPS. Analysts predict that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

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

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the transaction, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the transaction, the chief executive officer owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This represents a 6.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of FLUT. Creative Planning grew its holdings in shares of Flutter Entertainment by 41.0% during the third quarter. Creative Planning now owns 1,461 shares of the company’s stock worth $371,000 after purchasing an additional 425 shares during the last quarter. Durable Capital Partners LP boosted its stake in Flutter Entertainment by 274.2% during the 3rd quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company’s stock worth $315,973,000 after purchasing an additional 911,507 shares during the period. SummitTX Capital L.P. acquired a new position in Flutter Entertainment in the third quarter valued at $2,805,000. Credit Agricole S A purchased a new stake in shares of Flutter Entertainment in the third quarter valued at about $2,866,000. Finally, Raymond James Financial Inc. boosted its stake in shares of Flutter Entertainment by 80.1% during the third quarter. Raymond James Financial Inc. now owns 35,436 shares of the company’s stock worth $9,001,000 after buying an additional 15,762 shares during the period.

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.