Flutter Entertainment PLC (NYSE:FLUT) Receives $156.88 Average Price Target from Analysts

Flutter Entertainment PLC (NYSE:FLUT) has been assigned a consensus recommendation of “Moderate Buy” from the thirty ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, seventeen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $156.8846.

FLUT has been the topic of several recent analyst reports. Benchmark dropped their target price on Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Wolfe Research assumed coverage on Flutter Entertainment in a research note on Wednesday, September 2nd. They set an “outperform” rating and a $150.00 price target for the company. Truist Financial lowered their price target on Flutter Entertainment from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. JPMorgan Chase & Co. initiated coverage on Flutter Entertainment in a research note on Wednesday, August 12th. They issued a “neutral” rating and a $114.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Flutter Entertainment in a report on Monday, August 24th.

Flutter Entertainment Stock Up 1.9%

Flutter Entertainment stock opened at $100.58 on Wednesday. Flutter Entertainment has a 52 week low of $89.71 and a 52 week high of $289.60. The stock has a market cap of $17.46 billion, a price-to-earnings ratio of -23.39, a PEG ratio of 2.50 and a beta of 1.26. The company’s 50-day moving average price is $102.16 and its two-hundred day moving average price is $103.89. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The company’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 earnings per share. On average, analysts expect that Flutter Entertainment will post 3.48 EPS for the current fiscal year.

Insider Activity

In other news, COO James Bishop sold 741 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $72,514.26. Following the completion of the transaction, the chief operating officer owned 16,864 shares in the company, valued at approximately $1,650,311.04. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu sold 565 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $55,290.90. Following the transaction, the insider owned 20,441 shares of the company’s stock, valued at approximately $2,000,356.26. This trade represents a 2.69% decrease in their position. 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. Insiders sold 6,681 shares of company stock valued at $644,214 over the last quarter. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Parvus Asset Management Jersey Ltd purchased a new position in Flutter Entertainment during the 2nd quarter worth approximately $1,552,097,267. Cibc World Markets Corp acquired a new stake in shares of Flutter Entertainment in the fourth quarter worth $1,678,841,000. Hsbc Holdings PLC lifted its stake in Flutter Entertainment by 33,988.7% in the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after acquiring an additional 5,589,099 shares in the last quarter. Capital International Investors boosted its position in Flutter Entertainment by 146.8% during the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after acquiring an additional 4,782,302 shares during the period. Finally, Norges Bank acquired a new stake in Flutter Entertainment during the 4th quarter worth about $694,009,000.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter’s portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.