Flutter Entertainment (NYSE:FLUT) Trading 2.6% Higher After Analyst Upgrade

Flutter Entertainment PLC (NYSE:FLUT) was up 2.6% on Tuesday after Wells Fargo & Company upgraded the stock to a strong-buy rating. The company traded as high as $195.77 and last traded at $196.1730. Approximately 256,833 shares traded hands during trading, a decline of 89% from the average daily volume of 2,366,977 shares. The stock had previously closed at $191.11.

A number of other equities research analysts have also weighed in on the stock. UBS Group reissued a “buy” rating and set a $360.00 price objective (up from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Barclays decreased their target price on Flutter Entertainment from $352.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Oppenheimer cut their price objective on Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, October 14th. Zacks Research downgraded shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Finally, Benchmark cut their target price on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $316.56.

Insider Activity

In other news, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the sale, the chief executive officer owned 69,850 shares in the company, valued at $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.09% of the company’s stock.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in FLUT. ORG Partners LLC lifted its position in Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after purchasing an additional 43 shares during the period. MML Investors Services LLC raised its stake in shares of Flutter Entertainment by 0.6% during the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after buying an additional 45 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of Flutter Entertainment by 1.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock valued at $1,030,000 after buying an additional 49 shares during the period. PARUS FINANCE UK Ltd boosted its stake in shares of Flutter Entertainment by 1.5% in the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock valued at $742,000 after buying an additional 50 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Flutter Entertainment by 5.6% in the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after buying an additional 50 shares in the last quarter.

Flutter Entertainment Price Performance

The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50-day simple moving average of $245.45 and a 200-day simple moving average of $266.85. The stock has a market cap of $33.78 billion, a PE ratio of 94.93 and a beta of 1.84.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $0.77 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the firm earned $1.27 EPS. The business’s revenue was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has approved a stock buyback program on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to buy up to 0.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.