Flutter Entertainment’s (FLUT) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Flutter Entertainment (NYSE:FLUT) in a report released on Friday,Benzinga reports. Wedbush currently has a $138.00 price objective on the stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price objective on shares of Flutter Entertainment from $161.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, June 12th. Zacks Research raised shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Citizens Jmp lowered their price target on shares of Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 8th. Needham & Company LLC cut their price target on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, UBS Group reduced their price objective on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average price target of $178.83.

Flutter Entertainment Price Performance

FLUT stock opened at $106.73 on Friday. The stock has a 50-day moving average price of $102.66 and a two-hundred day moving average price of $124.98. The stock has a market cap of $18.57 billion, a PE ratio of -49.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment has a 1 year low of $91.52 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company posted $1.59 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts forecast that Flutter Entertainment will post 4.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO James Philip Bishop acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $99.75 per share, with a total value of $99,750.00. Following the completion of the purchase, the chief operating officer directly owned 17,605 shares of the company’s stock, valued at $1,756,098.75. The trade was a 6.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Don H. Liu acquired 1,459 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $102.78 per share, with a total value of $149,956.02. Following the purchase, the insider owned 22,265 shares in the company, valued at $2,288,396.70. The trade was a 7.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after acquiring an additional 69 shares during the period. Sivia Capital Partners LLC acquired a new position in Flutter Entertainment during the 2nd quarter worth about $405,000. Creative Planning bought a new stake in shares of Flutter Entertainment in the 2nd quarter valued at about $296,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after buying an additional 133 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Flutter Entertainment by 74.6% in the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after buying an additional 106 shares during the period.

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.