Flutter Entertainment (NYSE:FLUT) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Flutter Entertainment (NYSE:FLUT) in a research note published on Thursday morning,Benzinga reports. JMP Securities currently has a $301.00 price target on the stock.

A number of other analysts have also commented on FLUT. Peel Hunt upgraded Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price objective on shares of Flutter Entertainment in a research report on Tuesday. BTIG Research decreased their price objective on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Benchmark restated a “buy” rating and issued a $300.00 target price on shares of Flutter Entertainment in a research note on Monday, April 21st. Finally, Susquehanna dropped their price objective on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $303.79.

Flutter Entertainment Stock Up 1.0%

Shares of NYSE FLUT opened at $272.16 on Thursday. The stock has a market cap of $48.09 billion and a PE ratio of 94.17. The business has a fifty day moving average of $241.04 and a two-hundred day moving average of $253.77. Flutter Entertainment has a 52-week low of $174.03 and a 52-week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Amy Howe sold 2,315 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.50, for a total transaction of $563,702.50. Following the sale, the chief executive officer now directly owns 73,947 shares of the company’s stock, valued at approximately $18,006,094.50. This represents a 3.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nancy Cruickshank sold 281 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $69,044.51. Following the sale, the director now directly owns 1,797 shares in the company, valued at approximately $441,540.87. This trade represents a 13.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,770 shares of company stock valued at $1,894,934 in the last ninety days.

Hedge Funds Weigh In On Flutter Entertainment

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Flutter Entertainment by 5.4% during the first quarter. Rhumbline Advisers now owns 23,806 shares of the company’s stock worth $5,274,000 after acquiring an additional 1,216 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in Flutter Entertainment in the first quarter valued at approximately $241,000. Focus Partners Wealth lifted its holdings in shares of Flutter Entertainment by 6.2% in the first quarter. Focus Partners Wealth now owns 7,434 shares of the company’s stock valued at $1,647,000 after purchasing an additional 435 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in shares of Flutter Entertainment by 24.9% in the first quarter. Plato Investment Management Ltd now owns 4,078 shares of the company’s stock valued at $913,000 after purchasing an additional 813 shares in the last quarter. Finally, Mudita Advisors LLP lifted its holdings in shares of Flutter Entertainment by 89.3% in the first quarter. Mudita Advisors LLP now owns 35,409 shares of the company’s stock valued at $7,826,000 after purchasing an additional 16,700 shares in the last quarter.

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.