Flutter Entertainment (NYSE:FLUT) Upgraded at Kepler Capital Markets

Kepler Capital Markets upgraded shares of Flutter Entertainment (NYSE:FLUT) to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

A number of other analysts have also weighed in on FLUT. Citigroup reaffirmed a “buy” rating on shares of Flutter Entertainment in a report on Thursday, August 14th. JMP Securities upped their target price on shares of Flutter Entertainment from $323.00 to $345.00 and gave the stock a “market outperform” rating in a report on Friday, August 8th. Oppenheimer upped their target price on shares of Flutter Entertainment from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Macquarie upped their target price on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Finally, Hsbc Global Res raised shares of Flutter Entertainment to a “hold” rating in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $332.70.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $307.73 on Thursday. The company’s 50 day moving average is $293.72 and its 200-day moving average is $263.25. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The firm has a market cap of $54.19 billion, a P/E ratio of 151.59, a price-to-earnings-growth ratio of 1.49 and a beta of 2.31. Flutter Entertainment has a 12-month low of $196.88 and a 12-month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.87. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Sell-side analysts predict that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback plan on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Amy Howe sold 4,097 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the sale, the chief executive officer owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Mark Taylor sold 15,283 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the completion of the sale, the insider directly owned 16,589 shares of the company’s stock, valued at $4,724,547.20. This trade represents a 47.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,851 shares of company stock worth $7,361,377 in the last ninety days. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors have recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC boosted its position in Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock valued at $26,000 after buying an additional 110 shares during the period. SVB Wealth LLC purchased a new stake in Flutter Entertainment during the 1st quarter valued at $27,000. ORG Partners LLC boosted its position in Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock valued at $28,000 after buying an additional 75 shares during the period. Barrett & Company Inc. purchased a new stake in Flutter Entertainment during the 2nd quarter valued at $29,000. Finally, Parallel Advisors LLC boosted its position in 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 buying an additional 60 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.