Flutter Entertainment (NYSE:FLUT) Price Target Cut to $137.00 by Analysts at Wells Fargo & Company

Flutter Entertainment (NYSE:FLUT) had its price objective cut by Wells Fargo & Company from $168.00 to $137.00 in a report released on Monday, MarketBeat.com reports. They currently have an equal weight rating on the stock.

FLUT has been the topic of a number of other reports. UBS Group lowered their price objective on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Benchmark dropped their price objective on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Susquehanna lowered their target price on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research note on Tuesday, March 31st. Oppenheimer lowered their price target on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Finally, Freedom Capital raised Flutter Entertainment to a “hold” rating in a report on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $177.48.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $106.41 on Monday. The company has a market cap of $18.51 billion, a price-to-earnings ratio of -49.73, a PEG ratio of 1.43 and a beta of 1.31. The business has a 50 day moving average price of $102.91 and a 200 day moving average price of $123.55. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment has a twelve month low of $91.52 and a twelve month 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, topping the consensus estimate 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 the consensus estimate of $4.24 billion. During the same period in the previous year, the business posted $1.59 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Research analysts predict that Flutter Entertainment will post 4.83 earnings per share for the current year.

Insider Buying and Selling at Flutter Entertainment

In related news, COO James Philip Bishop acquired 1,000 shares of the business’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 transaction, the chief operating officer 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carolan Lennon sold 439 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $94.63, for a total value of $41,542.57. Following the completion of the sale, the director owned 1,688 shares in the company, valued at approximately $159,735.44. This trade represents a 20.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders acquired 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. Insiders own 0.13% of the company’s stock.

Institutional Trading of Flutter Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of FLUT. MassMutual Private Wealth & Trust FSB raised its stake in shares of Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Zions Bancorporation National Association UT boosted its holdings in shares of Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the period. EFG International AG acquired a new position in Flutter Entertainment in the 4th quarter valued at about $36,000. IFP Advisors Inc raised its holdings in Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after acquiring an additional 90 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Flutter Entertainment by 83.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after acquiring an additional 75 shares during 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.