Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $159.00 at Citizens Jmp

Flutter Entertainment (NYSE:FLUT) had its price target decreased by Citizens Jmp from $165.00 to $159.00 in a research report released on Wednesday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Several other analysts also recently weighed in on the company. Susquehanna lowered their target price on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Flutter Entertainment in a report on Wednesday, May 27th. Truist Financial cut their target price on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Zacks Research upgraded Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Needham & Company LLC cut their price target on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.78.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $111.57 on Wednesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. Flutter Entertainment has a 1-year low of $91.52 and a 1-year high of $313.68. The company has a market capitalization of $19.41 billion, a price-to-earnings ratio of -52.13, a PEG ratio of 1.40 and a beta of 1.31. The business has a 50-day moving average of $101.89 and a 200-day moving average of $129.80.

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

Flutter Entertainment announced that its board has initiated a share repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Flutter Entertainment

In other news, insider Don H. Liu acquired 1,459 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average cost of $102.78 per share, for a total transaction of $149,956.02. Following the transaction, the insider directly owned 22,265 shares in the company, valued at $2,288,396.70. This trade represents a 7.01% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $98.13, for a total value of $302,632.92. Following the transaction, the chief executive officer directly owned 74,326 shares in the company, valued at $7,293,610.38. This trade represents a 3.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have acquired 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FLUT. Norges Bank acquired a new stake in Flutter Entertainment during the 4th quarter worth about $694,009,000. Peregrine Capital Management LLC lifted its stake in Flutter Entertainment by 34.2% in the fourth quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock valued at $32,467,000 after acquiring an additional 38,469 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new stake in shares of Flutter Entertainment in the 1st quarter valued at $3,670,000. Hudson Bay Capital Management LP boosted its holdings in Flutter Entertainment by 6.2% in the third quarter. Hudson Bay Capital Management LP now owns 395,120 shares of the company’s stock worth $100,360,000 after purchasing an additional 23,237 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its position in Flutter Entertainment by 5.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock worth $85,818,000 after buying an additional 20,203 shares during the last quarter.

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.