BTIG Research Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $271.00

Flutter Entertainment (NYSE:FLUT) had its price objective decreased by BTIG Research from $321.00 to $271.00 in a research report report published on Thursday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Truist Financial decreased 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. Peel Hunt cut Flutter Entertainment from an “add” rating to a “hold” rating in a research note on Friday, August 8th. Canaccord Genuity Group boosted their price objective on Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Macquarie raised their target price on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Benchmark decreased their price target on shares of Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Moderate Buy” and an average price target of $319.22.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $198.97 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day moving average is $253.33 and its two-hundred day moving average is $268.45. The firm has a market capitalization of $35.04 billion, a P/E ratio of 98.01 and a beta of 1.84. Flutter Entertainment has a fifty-two week low of $193.27 and a fifty-two week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter last year, the firm earned $1.27 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has authorized a share repurchase plan on Friday, August 8th that authorizes the company to repurchase $245.00 million in 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 an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was 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 owned 31,944 shares in the company, valued at approximately $9,341,064.48. This trade represents a 6.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amy Howe sold 4,097 shares of the stock in a transaction on Thursday, August 28th. The stock was 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 directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.09% of the company’s stock.

Institutional Trading of Flutter Entertainment

Several hedge funds have recently bought and sold shares of FLUT. Vanguard Group Inc. lifted its position in shares of Flutter Entertainment by 1.7% in the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock worth $4,460,076,000 after buying an additional 301,879 shares in the last quarter. Parvus Asset Management Jersey Ltd bought a new stake in Flutter Entertainment in the 2nd quarter worth approximately $2,231,266,000. Wellington Management Group LLP raised its holdings in shares of Flutter Entertainment by 5.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,519,434 shares of the company’s stock worth $903,694,000 after acquiring an additional 182,594 shares in the last quarter. Capital International Investors boosted its position in shares of Flutter Entertainment by 4.9% during the 3rd quarter. Capital International Investors now owns 3,256,764 shares of the company’s stock valued at $827,841,000 after acquiring an additional 153,390 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Flutter Entertainment in the second quarter valued at $930,349,000.

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.