Flutter Entertainment (NYSE:FLUT) Raised to Hold at Freedom Capital

Flutter Entertainment (NYSE:FLUT) was upgraded by analysts at Freedom Capital to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on FLUT. Sanford C. Bernstein dropped their price target on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $167.00 price objective on shares of Flutter Entertainment in a report on Friday, May 8th. Truist Financial lowered their target price on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Canaccord Genuity Group decreased their price target on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Stifel Nicolaus lowered their price objective on shares of Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.42.

Flutter Entertainment Trading Up 0.6%

NYSE:FLUT opened at $98.47 on Monday. Flutter Entertainment has a 12 month low of $91.52 and a 12 month high of $313.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $17.13 billion, a price-to-earnings ratio of -46.02, a PEG ratio of 1.27 and a beta of 1.40. The firm has a fifty day simple moving average of $102.71 and a two-hundred day simple moving average of $137.72.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.13. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 earnings per share. Analysts expect that Flutter Entertainment will post 5 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has approved a share repurchase program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In related news, COO James Philip Bishop bought 1,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $99.75 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the chief operating officer directly owned 17,605 shares of the company’s stock, valued at $1,756,098.75. This trade represents a 6.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carolan Lennon sold 439 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $94.63, for a total value of $41,542.57. Following the transaction, the director directly owned 1,688 shares in the company, valued at approximately $159,735.44. The trade was a 20.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is owned by company insiders.

Institutional Trading of Flutter Entertainment

Several institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Flutter Entertainment during the second quarter worth about $405,000. Creative Planning bought a new stake in Flutter Entertainment in the 2nd quarter worth about $296,000. Northwestern Mutual Wealth Management Co. grew its position in Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after purchasing an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Flutter Entertainment by 74.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after buying an additional 106 shares during the last quarter.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.