UBS Group Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price target cut by UBS Group from $300.00 to $160.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 54.43% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. BTIG Research decreased their price target on shares of Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Benchmark cut their price objective on shares of Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Susquehanna restated a “positive” rating and issued a $228.00 price objective on shares of Flutter Entertainment in a research note on Tuesday, January 27th. Barclays decreased their target price on Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $170.00 price target on shares of Flutter Entertainment in a report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $227.50.

Flutter Entertainment Price Performance

NYSE FLUT opened at $103.60 on Wednesday. Flutter Entertainment has a 52 week low of $99.96 and a 52 week high of $313.68. The firm has a market capitalization of $18.16 billion, a P/E ratio of -57.56, a PEG ratio of 0.70 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 company has a 50-day moving average price of $133.77 and a 200-day moving average price of $198.83.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data 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 the consensus estimate of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.Flutter Entertainment’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter last year, the company earned $2.94 EPS. Equities research analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback program on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 4,326 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the completion of the sale, the chief executive officer owned 36,788 shares in the company, valued at approximately $3,973,104. This represents a 10.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Amy Howe sold 8,895 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total value of $942,069.45. Following the completion of the sale, the chief executive officer owned 78,889 shares of the company’s stock, valued at $8,355,133.99. The trade was a 10.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,834 shares of company stock worth $1,900,331 in the last three months. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently made changes to their positions in FLUT. MassMutual Private Wealth & Trust FSB raised its stake in Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. JFS Wealth Advisors LLC bought a new position in Flutter Entertainment in the 3rd quarter worth approximately $27,000. Zions Bancorporation National Association UT boosted its stake in Flutter Entertainment by 1,685.7% in the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the period. JCIC Asset Management Inc. purchased a new stake in Flutter Entertainment during the 3rd quarter valued at approximately $32,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Flutter Entertainment during the 3rd quarter valued at approximately $34,000.

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.