Flutter Entertainment plc (NYSE:FLUT) Given Average Recommendation of “Buy” by Brokerages

Flutter Entertainment plc (NYSE:FLUT) has been assigned a consensus rating of “Buy” from the twenty-two research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, twenty have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $303.79.

FLUT has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and set a $300.00 target price on shares of Flutter Entertainment in a research note on Monday, April 21st. UBS Group raised their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. BTIG Research cut their target price on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company boosted their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th.

Flutter Entertainment Stock Performance

FLUT opened at $264.66 on Monday. Flutter Entertainment has a twelve month low of $175.59 and a twelve month high of $299.73. The stock has a market cap of $46.76 billion and a PE ratio of 91.58. The business’s 50 day moving average is $242.08 and its 200-day moving average is $253.42. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm earned $0.10 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Flutter Entertainment will post 4.17 earnings per share for the current year.

Insider Buying and Selling

In other Flutter Entertainment news, Director Christine M. Mccarthy sold 264 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the transaction, the director now owns 559 shares in the company, valued at approximately $136,463.08. This represents a 32.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Philip Bishop sold 3,000 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $243.20, for a total transaction of $729,600.00. Following the transaction, the chief operating officer now owns 4,712 shares in the company, valued at approximately $1,145,958.40. This represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,770 shares of company stock valued at $1,894,934.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. PARUS FINANCE UK Ltd increased its holdings in Flutter Entertainment by 1.5% in the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock worth $742,000 after buying an additional 50 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Flutter Entertainment by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock worth $407,000 after purchasing an additional 53 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in shares of Flutter Entertainment by 43.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after purchasing an additional 56 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock valued at $30,000 after purchasing an additional 60 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Flutter Entertainment by 1.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock valued at $1,060,000 after purchasing an additional 67 shares during the last quarter.

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.