Flutter Entertainment’s (FLUT) “Buy” Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Flutter Entertainment (NYSE:FLUT) in a report released on Wednesday morning,Benzinga reports. They currently have a $365.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Peel Hunt lowered shares of Flutter Entertainment from an “add” rating to a “hold” rating in a research report on Friday, August 8th. Hsbc Global Res upgraded shares of Flutter Entertainment to a “hold” rating in a report on Wednesday, June 18th. Needham & Company LLC upped their target price on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a report on Friday, August 8th. Kepler Capital Markets upgraded shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, August 28th. Finally, Stifel Nicolaus upped their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a “buy” rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $335.47.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $252.69 on Wednesday. Flutter Entertainment has a 52 week low of $196.88 and a 52 week high of $313.68. 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’s 50-day simple moving average is $292.22 and its 200 day simple moving average is $266.13. The firm has a market capitalization of $44.50 billion, a PE ratio of 124.48 and a beta of 1.93.

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

Flutter Entertainment declared that its board has approved a share buyback plan on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Flutter Entertainment

In other news, insider Daniel Mark Taylor sold 15,283 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 16,589 shares of the company’s stock, valued at $4,724,547.20. This represents a 47.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Philip Bishop sold 1,904 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the transaction, the insider directly owned 4,712 shares of the company’s stock, valued at approximately $1,327,087.68. This represents a 28.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,396 shares of company stock worth $6,759,745. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC increased its position in Flutter Entertainment by 24.9% during the 2nd quarter. Corient Private Wealth LLC now owns 5,510 shares of the company’s stock worth $1,575,000 after purchasing an additional 1,097 shares in the last quarter. Osaic Holdings Inc. increased its position in Flutter Entertainment by 72.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,694 shares of the company’s stock worth $445,000 after purchasing an additional 714 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in Flutter Entertainment by 121.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,726 shares of the company’s stock worth $1,065,000 after purchasing an additional 2,044 shares in the last quarter. State of Wyoming increased its position in Flutter Entertainment by 549.9% during the 2nd quarter. State of Wyoming now owns 4,322 shares of the company’s stock worth $1,235,000 after purchasing an additional 3,657 shares in the last quarter. Finally, Hohimer Wealth Management LLC increased its position in Flutter Entertainment by 1.3% during the 2nd quarter. Hohimer Wealth Management LLC now owns 4,567 shares of the company’s stock worth $1,305,000 after purchasing an additional 60 shares in 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.