Flutter Entertainment PLC (NYSE:FLUT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Flutter Entertainment PLC (NYSE:FLUT) have been assigned an average rating of “Moderate Buy” from the twenty-five analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, fifteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $234.65.

FLUT has been the subject of several research reports. Citizens Jmp reduced their price target on shares of Flutter Entertainment from $275.00 to $195.00 and set a “market outperform” rating for the company in a research report on Friday, February 27th. HSBC raised shares of Flutter Entertainment from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $265.00 to $228.00 in a research report on Monday, November 24th. Kepler Capital Markets downgraded shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday. Susquehanna reissued a “positive” rating and set a $228.00 target price on shares of Flutter Entertainment in a research report on Tuesday, January 27th. Finally, Zacks Research lowered shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th.

Insider Buying and Selling

In related news, CEO Jeremy Peter Jackson sold 4,326 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the sale, the chief executive officer directly owned 36,788 shares in the company, valued at approximately $3,973,104. The trade was a 10.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amy Howe sold 8,895 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total transaction of $942,069.45. Following the sale, the chief executive officer directly owned 78,889 shares in the company, valued at approximately $8,355,133.99. This trade represents a 10.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 17,834 shares of company stock valued at $1,900,331. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Makena Capital Management LLC bought a new stake in Flutter Entertainment during the 3rd quarter worth approximately $11,517,000. TimesSquare Capital Management LLC boosted its holdings in Flutter Entertainment by 294.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after purchasing an additional 282,736 shares during the period. AGF Management Ltd. bought a new position in Flutter Entertainment in the 3rd quarter valued at $9,519,000. Mutual of America Capital Management LLC purchased a new position in shares of Flutter Entertainment during the 3rd quarter valued at $2,173,000. Finally, Federated Hermes Inc. purchased a new position in shares of Flutter Entertainment during the 3rd quarter valued at $169,777,000.

Flutter Entertainment Stock Performance

FLUT stock opened at $109.33 on Wednesday. The firm has a market cap of $19.17 billion, a PE ratio of -60.74, a P/E/G ratio of 0.74 and a beta of 2.30. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average of $148.03 and a 200-day moving average of $206.90. Flutter Entertainment has a 12-month low of $99.96 and a 12-month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The business’s revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.94 earnings per share. As a group, sell-side analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.