Flutter Entertainment’s (FLUT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Flutter Entertainment (NYSE:FLUT) in a research report report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $310.00 target price on the stock.

A number of other research analysts also recently issued reports on the company. Susquehanna lowered their price target on Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, March 5th. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Barclays decreased their price objective on shares of Flutter Entertainment from $308.00 to $300.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Benchmark reaffirmed a “buy” rating and issued a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Finally, Stifel Nicolaus lowered their price target on Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Twenty equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $306.28.

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $234.76 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The firm has a market cap of $41.48 billion and a P/E ratio of 81.23. The business’s 50 day moving average price is $234.03 and its 200-day moving average price is $253.56.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current year.

Insider Activity

In other Flutter Entertainment news, CEO Amy Howe sold 11,814 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the transaction, the director now directly owns 21,148 shares in the company, valued at approximately $5,539,930.08. The trade was a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors have recently bought and sold shares of FLUT. Harbour Capital Advisors LLC acquired a new stake in shares of Flutter Entertainment in the 4th quarter worth $505,000. Benson Investment Management Company Inc. acquired a new stake in Flutter Entertainment in the fourth quarter worth about $5,116,000. SeaCrest Wealth Management LLC acquired a new stake in Flutter Entertainment in the fourth quarter worth about $390,000. Park Avenue Securities LLC purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth about $669,000. Finally, Ritholtz Wealth Management increased its holdings in shares of Flutter Entertainment by 3.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after acquiring an additional 59 shares in the last quarter.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.