Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $339.00 at Stifel Nicolaus

Flutter Entertainment (NYSE:FLUT) had its target price cut by Stifel Nicolaus from $356.00 to $339.00 in a report issued on Monday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. Jefferies Financial Group began coverage on Flutter Entertainment in a report on Tuesday, July 8th. They issued a “buy” rating and a $380.00 target price for the company. Peel Hunt cut Flutter Entertainment from an “add” rating to a “hold” rating in a report on Friday, August 8th. JMP Securities dropped their target price on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a report on Wednesday, October 1st. Truist Financial dropped their target price on Flutter Entertainment from $350.00 to $335.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Finally, Macquarie upped their target price on Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $335.11.

Flutter Entertainment Stock Up 0.3%

Shares of FLUT opened at $244.74 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment has a one year low of $196.88 and a one year high of $313.68. The stock has a market capitalization of $43.10 billion, a price-to-earnings ratio of 120.56 and a beta of 1.91. The stock has a 50 day moving average price of $274.33 and a 200 day moving average price of $269.00.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results 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 return on equity of 12.15% and a net margin of 2.96%.The firm had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $3.06 billion. The firm’s revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities research analysts forecast that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In other Flutter Entertainment news, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $284.80, for a total value of $4,352,598.40. Following the sale, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer directly owned 31,944 shares in the company, valued at $9,341,064.48. This represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock worth $6,759,745 over the last 90 days. 0.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds have recently bought and sold shares of FLUT. Vanguard Group Inc. raised its position in Flutter Entertainment by 402.4% in the 2nd quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock valued at $4,931,496,000 after purchasing an additional 13,822,673 shares in the last quarter. Parvus Asset Management Jersey Ltd purchased a new position in shares of Flutter Entertainment in the 2nd quarter valued at about $2,231,266,000. Norges Bank purchased a new position in shares of Flutter Entertainment in the 2nd quarter valued at about $930,349,000. State Street Corp increased its holdings in shares of Flutter Entertainment by 120.3% in the 2nd quarter. State Street Corp now owns 3,086,730 shares of the company’s stock valued at $882,064,000 after acquiring an additional 1,685,556 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Flutter Entertainment by 196.5% in the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock valued at $441,916,000 after acquiring an additional 1,322,016 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.