Sanford C. Bernstein Lowers Flutter Entertainment (NYSE:FLUT) Price Target to $325.00

Flutter Entertainment (NYSE:FLUT) had its price objective lowered by Sanford C. Bernstein from $330.00 to $325.00 in a report issued on Monday, MarketBeat reports. The brokerage presently has a “market perform” rating on the stock. Sanford C. Bernstein’s target price indicates a potential upside of 46.16% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. UBS Group reiterated a “buy” rating and set a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Kepler Capital Markets upgraded Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. BTIG Research set a $321.00 price objective on Flutter Entertainment in a report on Thursday, October 30th. Bank of America boosted their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a “buy” rating in a report on Friday, July 11th. Finally, Peel Hunt lowered shares of Flutter Entertainment from an “add” rating to a “hold” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.47.

Flutter Entertainment Trading Down 3.7%

Shares of FLUT opened at $222.36 on Monday. Flutter Entertainment has a 1-year low of $196.88 and a 1-year high of $313.68. The company has a 50-day moving average of $266.54 and a 200 day moving average of $269.40. The firm has a market capitalization of $39.16 billion, a price-to-earnings ratio of 109.54 and a beta of 1.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The business’s revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, research analysts expect that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment announced that its board has approved a stock 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 generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were 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 owned 69,850 shares in the company, valued at $21,367,813.50. The trade was a 5.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Philip Bishop sold 1,904 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the transaction, the insider owned 4,712 shares of the company’s stock, valued at approximately $1,327,087.68. This trade represents a 28.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 23,396 shares of company stock worth $6,759,745. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FLUT. Bank of New York Mellon Corp raised its stake in shares of Flutter Entertainment by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 206,551 shares of the company’s stock worth $45,761,000 after acquiring an additional 6,738 shares in the last quarter. Blackhawk Capital Partners LLC. purchased a new stake in shares of Flutter Entertainment during the first quarter worth about $285,000. Axxcess Wealth Management LLC grew its stake in shares of Flutter Entertainment by 11.7% during the first quarter. Axxcess Wealth Management LLC now owns 2,159 shares of the company’s stock worth $478,000 after acquiring an additional 227 shares during the last quarter. Xponance Inc. grew its stake in shares of Flutter Entertainment by 1.7% during the first quarter. Xponance Inc. now owns 9,183 shares of the company’s stock worth $2,034,000 after acquiring an additional 150 shares during the last quarter. Finally, IFC Advisors LLC purchased a new stake in shares of Flutter Entertainment during the first quarter worth about $2,543,000.

About Flutter Entertainment

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.