Flutter Entertainment PLC (NYSE:FLUT) Given Average Rating of “Moderate Buy” by Brokerages

Flutter Entertainment PLC (NYSE:FLUT) has earned a consensus recommendation of “Moderate Buy” from the twenty-nine brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $176.2609.

A number of equities analysts have recently commented on FLUT shares. Wells Fargo & Company lowered their price objective on Flutter Entertainment from $168.00 to $137.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. BTIG Research reduced their target price on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. BNP Paribas Exane assumed coverage on shares of Flutter Entertainment in a research note on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price target for the company. Citizens Jmp lowered their price target on shares of Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a report on Wednesday, July 8th. Finally, Barclays increased their price objective on shares of Flutter Entertainment from $150.00 to $151.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th.

Insider Activity

In other Flutter Entertainment news, COO James Philip Bishop bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $99.75 per share, with a total value 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 represents a 6.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Bryant purchased 1,950 shares of the business’s stock in a transaction on Friday, May 8th. The stock was acquired at an average price of $102.86 per share, for a total transaction of $200,577.00. Following the completion of the purchase, the director owned 9,235 shares of the company’s stock, valued at $949,912.10. This represents a 26.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. 0.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors have recently added to or reduced their stakes in the business. MML Investors Services LLC increased its stake in Flutter Entertainment by 0.6% in the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after purchasing an additional 45 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Flutter Entertainment by 2.8% in the 4th quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock valued at $560,000 after buying an additional 72 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after buying an additional 75 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter.

Flutter Entertainment Trading Up 0.6%

NYSE:FLUT opened at $101.47 on Tuesday. Flutter Entertainment has a 12-month low of $91.52 and a 12-month high of $313.68. The firm has a market cap of $17.65 billion, a PE ratio of -47.42, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31. 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 fifty day moving average price of $103.43 and a 200 day moving average price of $120.97.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.Flutter Entertainment’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 EPS. Sell-side analysts anticipate that Flutter Entertainment will post 4.72 earnings per share for the current fiscal year.

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.