Flutter Entertainment (NYSE:FLUT) Shares Gap Down – Should You Sell?

Shares of Flutter Entertainment PLC (NYSE:FLUT) gapped down before the market opened on Wednesday . The stock had previously closed at $104.96, but opened at $97.71. Flutter Entertainment shares last traded at $96.51, with a volume of 3,293,874 shares traded.

Analyst Ratings Changes

FLUT has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Flutter Entertainment from $168.00 to $137.00 and set an “equal weight” rating on the stock in a research report on Monday, July 20th. Wedbush restated an “outperform” rating and set a $138.00 price target on shares of Flutter Entertainment in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $167.00 price objective on shares of Flutter Entertainment in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Finally, Truist Financial decreased their price target on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Two 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.00.

Flutter Entertainment Trading Down 11.8%

The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average is $104.68 and its 200 day moving average is $115.09. The company has a market cap of $16.10 billion, a price-to-earnings ratio of -43.26, a price-to-earnings-growth ratio of 1.45 and a beta of 1.28.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data 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). Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.23 billion. During the same quarter last year, the company posted $2.95 EPS. The company’s revenue was up 3.3% on a year-over-year basis. Research analysts predict that Flutter Entertainment PLC will post 4.72 EPS for the current year.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Daniel Mark Taylor bought 1,611 shares of Flutter Entertainment stock in a transaction dated 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 purchase, the chief executive officer directly owned 34,584 shares in the company, valued at $3,260,925.36. This represents a 4.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Don H. Liu bought 1,459 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of $102.78 per share, for a total transaction of $149,956.02. Following the transaction, the insider directly owned 22,265 shares in the company, valued at approximately $2,288,396.70. This represents a 7.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Flutter Entertainment

Several institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in Flutter Entertainment by 145.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,231 shares of the company’s stock worth $126,000 after buying an additional 729 shares in the last quarter. CX Institutional lifted its position in Flutter Entertainment by 729.7% during the second quarter. CX Institutional now owns 531 shares of the company’s stock worth $54,000 after buying an additional 467 shares in the last quarter. Pacer Advisors Inc. lifted its position in Flutter Entertainment by 66.8% during the first quarter. Pacer Advisors Inc. now owns 2,887 shares of the company’s stock worth $294,000 after buying an additional 1,156 shares in the last quarter. DV Trading LLC boosted its stake in Flutter Entertainment by 609.4% during the first quarter. DV Trading LLC now owns 2,036 shares of the company’s stock worth $208,000 after buying an additional 1,749 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Flutter Entertainment by 489.7% in the 1st quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock valued at $47,000 after buying an additional 382 shares in the last quarter.

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.