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

Flutter Entertainment PLC (NYSE:FLUT) has received an average rating of “Moderate Buy” from the twenty-nine ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, sixteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $177.4783.

A number of brokerages have recently weighed in on FLUT. Susquehanna lowered their price target on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $167.00 price objective on shares of Flutter Entertainment in a research note on Friday, May 8th. Barclays boosted their target price on shares of Flutter Entertainment from $150.00 to $151.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Flutter Entertainment in a report on Wednesday, May 27th. Finally, Benchmark reduced their price target on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th.

Insider Activity

In other Flutter Entertainment news, Director Carolan Lennon sold 439 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $41,542.57. Following the completion of the transaction, the director directly owned 1,688 shares in the company, valued at $159,735.44. The trade was a 20.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $7,293,610.38. This trade represents a 3.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over 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. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew 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 worth $25,000 after buying an additional 79 shares during the last quarter. Zions Bancorporation National Association UT lifted its stake in Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the last quarter. EFG International AG acquired a new position in shares of Flutter Entertainment during the fourth quarter valued at $36,000. IFP Advisors Inc boosted its holdings in shares of Flutter Entertainment by 93.8% during the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after acquiring an additional 90 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in shares of Flutter Entertainment by 83.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after acquiring an additional 75 shares during the last quarter.

Flutter Entertainment Stock Down 0.1%

NYSE:FLUT opened at $106.41 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $18.51 billion, a price-to-earnings ratio of -49.73, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31. Flutter Entertainment has a one year low of $91.52 and a one year high of $313.68. The stock has a 50-day simple moving average of $102.91 and a 200 day simple moving average of $123.55.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm posted $1.59 earnings per share. Flutter Entertainment’s revenue for the quarter was up 17.4% compared to the same quarter last year. Sell-side analysts predict that Flutter Entertainment will post 4.83 EPS for the current fiscal year.

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.