Flutter Entertainment’s (FLUT) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of Flutter Entertainment (NYSE:FLUT) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $301.00 price target on the stock.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Stifel Nicolaus reduced their target price on shares of Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Benchmark reissued a “buy” rating and set a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Citizens Jmp cut their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, Truist Financial cut their price target on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $303.79.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $272.16 on Thursday. The stock has a market cap of $48.09 billion and a P/E ratio of 94.17. Flutter Entertainment has a 12-month low of $174.03 and a 12-month high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $241.04 and a two-hundred day moving average of $253.77.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.30). The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, research analysts predict that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, COO James Philip Bishop sold 3,000 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.20, for a total value of $729,600.00. Following the transaction, the chief operating officer now owns 4,712 shares of the company’s stock, valued at approximately $1,145,958.40. This represents a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alfred F. Hurley, Jr. sold 265 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $243.94, for a total value of $64,644.10. Following the completion of the transaction, the director now directly owns 3,518 shares in the company, valued at $858,180.92. This represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock worth $1,894,934 in the last 90 days.

Institutional Trading of Flutter Entertainment

Hedge funds have recently bought and sold shares of the company. Yousif Capital Management LLC lifted its position in shares of Flutter Entertainment by 7.5% in the fourth quarter. Yousif Capital Management LLC now owns 3,530 shares of the company’s stock worth $912,000 after purchasing an additional 245 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Flutter Entertainment during the fourth quarter valued at approximately $216,000. Asset Management One Co. Ltd. grew its holdings in Flutter Entertainment by 0.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 62,564 shares of the company’s stock valued at $16,379,000 after purchasing an additional 317 shares during the last quarter. Rhumbline Advisers grew its holdings in Flutter Entertainment by 0.6% during the fourth quarter. Rhumbline Advisers now owns 22,590 shares of the company’s stock valued at $5,838,000 after purchasing an additional 139 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in shares of Flutter Entertainment by 158.8% in the fourth quarter. Principal Securities Inc. now owns 220 shares of the company’s stock worth $57,000 after acquiring an additional 135 shares during the last quarter.

About Flutter Entertainment

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.