Flutter Entertainment (NYSE:FLUT) Price Target Raised to $323.00

Flutter Entertainment (NYSE:FLUT) had its price target lifted by JMP Securities from $301.00 to $323.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

FLUT has been the subject of a number of other reports. Macquarie reissued an “outperform” rating and issued a $340.00 price objective (up from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. Sanford C. Bernstein initiated coverage on shares of Flutter Entertainment in a report on Wednesday, June 4th. They issued a “market perform” rating and a $275.00 target price for the company. Citizens Jmp cut their price target on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. BTIG Research lowered their price objective on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Finally, Truist Financial dropped their price objective on Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.81.

Flutter Entertainment Trading Up 2.9%

Shares of NYSE FLUT opened at $304.88 on Tuesday. The firm’s 50 day moving average price is $264.66 and its 200-day moving average price is $255.36. Flutter Entertainment has a 52-week low of $175.59 and a 52-week high of $305.49. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $53.87 billion and a PE ratio of 105.49.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. Flutter Entertainment’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 2,315 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $243.50, for a total transaction of $563,702.50. Following the transaction, the chief executive officer directly owned 73,947 shares in the company, valued at approximately $18,006,094.50. This represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John A. Bryant sold 418 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $102,706.78. Following the completion of the sale, the director directly owned 5,956 shares in the company, valued at $1,463,448.76. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock valued at $1,894,934 over the last three months.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Flutter Entertainment by 326.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company’s stock worth $742,000 after buying an additional 2,483 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in shares of Flutter Entertainment during the first quarter worth $380,000. Rubicon Global Capital Ltd grew its stake in Flutter Entertainment by 56.1% during the 1st quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company’s stock valued at $15,564,000 after purchasing an additional 25,250 shares during the last quarter. Bessemer Group Inc. boosted its position in Flutter Entertainment by 0.6% in the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company’s stock valued at $88,021,000 after buying an additional 2,478 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock worth $1,060,000 after acquiring an additional 67 shares during the period.

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.