Wells Fargo & Company Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price objective dropped by equities researchers at Wells Fargo & Company from $168.00 to $137.00 in a research note issued to investors on Monday, Marketbeat reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 35.46% from the company’s previous close.

A number of other research analysts have also issued reports on the company. Barclays boosted their price objective on Flutter Entertainment from $150.00 to $151.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Sanford C. Bernstein dropped their target price on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. Zacks Research raised shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Freedom Capital raised shares of Flutter Entertainment to a “hold” rating in a report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.48.

Flutter Entertainment Price Performance

FLUT opened at $101.14 on Monday. The firm has a market cap of $17.59 billion, a price-to-earnings ratio of -47.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31. Flutter Entertainment has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. The company’s 50-day moving average price is $103.01 and its 200 day moving average price is $122.75. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $1.59 earnings per share. As a group, sell-side analysts expect that Flutter Entertainment will post 4.83 earnings per share for the current year.

Insider Activity

In other news, COO James Philip Bishop bought 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost 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 approximately $1,756,098.75. The trade was a 6.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Mark Taylor purchased 1,611 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $94.29 per share, with a total value of $151,901.19. Following the completion of the acquisition, the chief executive officer directly owned 34,584 shares in the company, valued at $3,260,925.36. The trade was a 4.89% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is currently owned by insiders.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its holdings in Flutter Entertainment by 219.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Zions Bancorporation National Association UT increased its holdings in shares of 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 in the last quarter. EFG International AG acquired a new stake in shares of Flutter Entertainment during the 4th quarter valued at $36,000. IFP Advisors Inc lifted its position in shares of Flutter Entertainment by 93.8% during the 4th 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 last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of Flutter Entertainment by 83.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after acquiring an additional 75 shares in 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.