Flutter Entertainment PLC (NYSE:FLUT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Flutter Entertainment PLC (NYSE:FLUT) have been given a consensus rating of “Moderate Buy” by the twenty-five research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, fifteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $234.65.

FLUT has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. UBS Group dropped their target price on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. BTIG Research cut their price target on shares of Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Texas Capital raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. Finally, Bank of America lowered their price objective on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Amy Howe sold 8,895 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total transaction of $942,069.45. Following the transaction, the chief executive officer directly owned 78,889 shares in the company, valued at approximately $8,355,133.99. This represents a 10.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total value of $467,208.00. Following the transaction, the chief executive officer directly owned 36,788 shares in the company, valued at approximately $3,973,104. This represents a 10.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,834 shares of company stock worth $1,900,331 over the last 90 days. Corporate insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Makena Capital Management LLC bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth approximately $11,517,000. TimesSquare Capital Management LLC grew its holdings in shares of Flutter Entertainment by 294.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after purchasing an additional 282,736 shares during the last quarter. AGF Management Ltd. bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at $9,519,000. Mutual of America Capital Management LLC purchased a new position in Flutter Entertainment in the 3rd quarter worth $2,173,000. Finally, Federated Hermes Inc. purchased a new position in Flutter Entertainment in the 3rd quarter worth $169,777,000.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $109.33 on Wednesday. The stock has a market cap of $19.17 billion, a price-to-earnings ratio of -60.74, a PEG ratio of 0.74 and a beta of 2.30. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. The business has a 50-day simple moving average of $148.03 and a 200 day simple moving average of $206.90. Flutter Entertainment has a 52 week low of $99.96 and a 52 week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The business’s revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.94 EPS. On average, research analysts forecast that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment declared that its board has approved a share buyback plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.