Flutter Entertainment (NYSE:FLUT) Stock Gets Price Target Cut from Citizens Jmp

Flutter Entertainment (NYSE:FLUT) had its target price lowered by Citizens Jmp from $145.00 to $129.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a market outperform rating on the stock.

FLUT has been the subject of a number of other research reports. Wells Fargo & Company cut their price objective on shares of Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating for the company in a research report on Thursday, August 6th. Stifel Nicolaus reduced their target price on shares of Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Susquehanna lowered their target price on shares of Flutter Entertainment from $115.00 to $100.00 and set a “positive” rating on the stock in a report on Thursday, October 8th. Barclays lowered their target price on shares of Flutter Entertainment from $151.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Finally, Wedbush dropped their price target on shares of Flutter Entertainment from $126.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $143.59.

Flutter Entertainment Trading Up 2.6%

NYSE FLUT opened at $76.22 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $13.23 billion, a PE ratio of -17.72, a P/E/G ratio of 2.39 and a beta of 1.39. Flutter Entertainment has a one year low of $72.56 and a one year high of $255.26. The firm’s fifty day moving average is $91.19 and its two-hundred day moving average is $99.28.

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

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Daniel Taylor sold 791 shares of the company’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 $77,407.26. Following the transaction, the chief executive officer directly owned 52,467 shares in the company, valued at approximately $5,134,420.62. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Bishop sold 741 shares of the 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 directly owned 16,864 shares of the company’s stock, valued at approximately $1,650,311.04. This trade represents a 4.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 6,681 shares of company stock worth $644,214. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parvus Asset Management Jersey Ltd acquired a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $1,552,097,267. Hsbc Holdings PLC increased 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 valued at $575,185,000 after purchasing an additional 5,589,099 shares in the last quarter. Amundi raised its holdings in Flutter Entertainment by 463.7% during the first quarter. Amundi now owns 2,059,906 shares of the company’s stock worth $210,007,000 after purchasing an additional 1,694,474 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Flutter Entertainment during the first quarter worth $40,562,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Flutter Entertainment during the second quarter worth $9,881,000.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides online and retail betting, casino, poker, bingo and lottery-related products through a portfolio of brands serving customers in multiple regulated markets.

Its principal brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sky Bet in the United Kingdom, PokerStars internationally, Sisal in Italy and other markets, and tombola, an online bingo operator.