Flutter Entertainment (NYSE:FLUT) Price Target Cut to $160.00 by Analysts at Oppenheimer

Flutter Entertainment (NYSE:FLUT) had its target price trimmed by Oppenheimer from $210.00 to $160.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Canaccord Genuity Group lowered their price objective on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Wells Fargo & Company reiterated an “equal weight” rating and set a $228.00 price target (down from $248.00) on shares of Flutter Entertainment in a research report on Wednesday, January 14th. Craig Hallum cut shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, January 21st. Needham & Company LLC reduced their price target on shares of Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average price target of $216.90.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT opened at $105.48 on Monday. The company has a market cap of $18.40 billion, a price-to-earnings ratio of -58.60, a price-to-earnings-growth ratio of 0.71 and a beta of 1.93. The company has a 50-day moving average price of $116.64 and a 200-day moving average price of $182.41. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31. Flutter Entertainment has a 12 month low of $98.88 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Friday, February 27th. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.37). The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The business’s revenue was up 24.9% on a year-over-year basis. During the same period last year, the company posted $2.94 earnings per share. As a group, equities analysts anticipate that Flutter Entertainment will post 4.17 EPS for the current year.

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

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 8,895 shares of the business’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 transaction, the chief executive officer owned 78,889 shares in the company, valued at $8,355,133.99. The trade was a 10.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Coldrake sold 4,613 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total transaction of $491,053.85. Following the completion of the sale, the chief financial officer owned 10,006 shares in the company, valued at approximately $1,065,138.70. This trade represents a 31.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 17,834 shares of company stock worth $1,900,331 over the last 90 days. 0.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares during the period. Sivia Capital Partners LLC purchased a new stake in Flutter Entertainment in the second quarter worth about $405,000. Creative Planning purchased a new stake in Flutter Entertainment in the second quarter worth about $296,000. Northwestern Mutual Wealth Management Co. grew its holdings in Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after purchasing an additional 133 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Flutter Entertainment by 74.6% in the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after purchasing an additional 106 shares during the period.

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.