Stifel Nicolaus Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $189.00

Flutter Entertainment (NYSE:FLUT) had its price target decreased by Stifel Nicolaus from $216.00 to $189.00 in a report issued on Thursday, MarketBeat reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Bank of America cut their target price on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Craig Hallum lowered shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a report on Wednesday, January 21st. Benchmark cut their target price on shares of Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating for the company in a report on Friday, February 27th. Canaccord Genuity Group cut their target price on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flutter Entertainment in a report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $219.40.

Flutter Entertainment Stock Performance

FLUT opened at $102.55 on Thursday. Flutter Entertainment has a 12-month low of $98.88 and a 12-month high of $313.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $17.88 billion, a PE ratio of -56.97, a P/E/G ratio of 0.71 and a beta of 1.93. The firm has a 50 day moving average of $117.79 and a two-hundred day moving average of $184.31.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Friday, February 27th. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.94 earnings per share. On average, analysts anticipate that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Robert Coldrake sold 4,613 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total value of $491,053.85. Following the completion of the sale, the chief financial officer owned 10,006 shares of the company’s stock, valued at approximately $1,065,138.70. The trade was a 31.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total transaction of $467,208.00. Following the completion of the sale, the chief executive officer directly owned 36,788 shares of the company’s stock, valued at approximately $3,973,104. The trade was a 10.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 17,834 shares of company stock valued at $1,900,331. 0.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB increased its holdings in Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. JFS Wealth Advisors LLC purchased a new stake in Flutter Entertainment in the 3rd quarter worth $27,000. Zions Bancorporation National Association UT increased its holdings in Flutter Entertainment by 1,685.7% in the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares in the last quarter. JCIC Asset Management Inc. purchased a new stake in Flutter Entertainment in the 3rd quarter worth $32,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Flutter Entertainment in the 3rd quarter worth $34,000.

Flutter Entertainment Company Profile

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.