Flutter Entertainment PLC (NYSE:FLUT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Flutter Entertainment PLC (NYSE:FLUT) has earned an average recommendation of “Moderate Buy” from the twenty-nine research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, sixteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $159.1250.

FLUT has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft set a $148.00 target price on Flutter Entertainment in a report on Thursday, August 6th. Jefferies Financial Group reissued a “buy” rating and issued a $180.00 price target on shares of Flutter Entertainment in a report on Sunday, August 9th. BNP Paribas Exane assumed coverage on shares of Flutter Entertainment in a research report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Flutter Entertainment in a research note on Wednesday, August 12th. They set a “neutral” rating and a $114.00 price objective for the company.

Flutter Entertainment Stock Up 3.1%

Flutter Entertainment stock opened at $102.66 on Friday. The firm has a 50 day simple moving average of $102.97 and a 200 day simple moving average of $108.13. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. Flutter Entertainment has a 1-year low of $89.71 and a 1-year high of $309.41. The firm has a market capitalization of $17.82 billion, a price-to-earnings ratio of -23.87, a P/E/G ratio of 2.52 and a beta of 1.28.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.Flutter Entertainment’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.95 earnings per share. On average, analysts predict that Flutter Entertainment will post 3.48 earnings per share for the current year.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Carolan Lennon sold 439 shares of the business’s 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 completion of the transaction, the director owned 1,688 shares of the company’s stock, valued at $159,735.44. The trade was a 20.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total value of $197,091.84. Following the completion of the transaction, the chief executive officer directly owned 72,214 shares in the company, valued at approximately $6,739,010.48. This represents a 2.84% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 3,634 shares of company stock valued at $341,119 in the last three months. 0.13% of the stock is owned by corporate insiders.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of FLUT. Zions Bancorporation National Association UT raised its stake in shares of Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake 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 purchasing an additional 75 shares in the last quarter. EFG International AG bought a new position in shares of Flutter Entertainment during the 4th quarter valued at $36,000. IFP Advisors Inc grew its holdings in shares of Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after purchasing an additional 90 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised 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 during the period.

Flutter Entertainment Company Profile

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.