Flutter Entertainment (NYSE:FLUT) Given New $140.00 Price Target at Truist Financial

Flutter Entertainment (NYSE:FLUT) had its target price reduced by Truist Financial from $160.00 to $140.00 in a research note released on Tuesday morning, MarketBeat reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on FLUT. Bank of America dropped their price objective on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. UBS Group dropped their price objective on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Sanford C. Bernstein reissued a “market perform” rating and issued a $170.00 price objective on shares of Flutter Entertainment in a report on Friday, February 6th. Craig Hallum downgraded shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 21st. Finally, Texas Capital raised shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average target price of $213.40.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $109.47 on Tuesday. The company has a 50 day moving average price of $111.50 and a 200-day moving average price of $175.94. Flutter Entertainment has a 52 week low of $98.88 and a 52 week high of $313.68. The firm has a market capitalization of $19.09 billion, a PE ratio of -60.82, a P/E/G ratio of 0.79 and a beta of 1.93. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Friday, February 27th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The company had revenue of $4.76 billion during 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 in the prior year, the firm earned $2.94 earnings per share. As a group, equities research analysts expect that Flutter Entertainment will post 5.14 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a stock 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Flutter Entertainment

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

Hedge Funds Weigh In On Flutter Entertainment

Several large investors have recently added to or reduced their stakes in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Flutter Entertainment during the second quarter valued at approximately $405,000. Creative Planning purchased a new position in Flutter Entertainment during the second quarter valued at approximately $296,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Flutter Entertainment by 246.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after purchasing an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Flutter Entertainment by 74.6% during the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after purchasing an additional 106 shares in the last quarter.

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.