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

Shares of Flutter Entertainment PLC (NYSE:FLUT) have received an average rating of “Moderate Buy” from the thirty ratings firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, fifteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $187.4167.

Several equities analysts have recently issued reports on FLUT shares. Sanford C. Bernstein lowered their price target on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a research report on Thursday, May 7th. Kepler Capital Markets lowered Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Wedbush started coverage on Flutter Entertainment in a research report on Monday, June 15th. They issued an “outperform” rating and a $138.00 price target for the company. Moffett Nathanson lowered Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target for the company. in a research report on Friday, April 24th. Finally, BNP Paribas Exane started coverage on Flutter Entertainment in a research report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price target for the company.

Insider Transactions at Flutter Entertainment

In related news, CEO Daniel Mark Taylor purchased 1,611 shares of the stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $94.29 per share, with a total value of $151,901.19. Following the transaction, the chief executive officer directly owned 34,584 shares in the company, valued at $3,260,925.36. This trade represents a 4.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James Philip Bishop acquired 1,000 shares of Flutter Entertainment stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $99.75 per share, with a total value of $99,750.00. Following the completion of the acquisition, the chief operating officer directly owned 17,605 shares in the company, valued at $1,756,098.75. This represents a 6.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently bought and sold shares of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Flutter Entertainment in the 2nd quarter worth about $405,000. Creative Planning bought a new stake in Flutter Entertainment in the 2nd quarter worth about $296,000. Northwestern Mutual Wealth Management Co. increased its holdings 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 buying an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Flutter Entertainment by 74.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after buying an additional 106 shares in the last quarter.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $96.43 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $16.78 billion, a P/E ratio of -45.06, a P/E/G ratio of 1.27 and a beta of 1.40. The business has a fifty day simple moving average of $102.50 and a two-hundred day simple moving average of $136.94. Flutter Entertainment has a 12 month low of $91.52 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.13. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.Flutter Entertainment’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. On average, equities analysts forecast that Flutter Entertainment will post 5 earnings per share for the current fiscal year.

Flutter Entertainment declared that its board has initiated a stock repurchase program on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors 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.