Brokerages Set Flutter Entertainment PLC (NYSE:FLUT) Price Target at $156.88

Flutter Entertainment PLC (NYSE:FLUT) has received a consensus rating of “Moderate Buy” from the thirty ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $156.8846.

A number of brokerages have commented on FLUT. Benchmark lowered their price target on Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of Flutter Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Freedom Capital raised shares of Flutter Entertainment to a “hold” rating in a report on Monday, June 22nd. Wedbush cut their price objective on shares of Flutter Entertainment from $138.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Stifel Nicolaus decreased their target price on shares of Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating for the company in a research report on Thursday, August 6th.

Flutter Entertainment Trading Down 0.8%

Flutter Entertainment stock opened at $99.87 on Wednesday. Flutter Entertainment has a one year low of $89.71 and a one year high of $287.44. The stock has a market cap of $17.33 billion, a PE ratio of -23.23, a price-to-earnings-growth ratio of 2.55 and a beta of 1.26. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50-day moving average of $101.85 and a two-hundred day moving average of $103.55.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the business earned $2.95 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts anticipate that Flutter Entertainment will post 3.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Daniel Taylor sold 791 shares of Flutter Entertainment stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $77,407.26. Following the completion of the transaction, the chief executive officer owned 52,467 shares of the company’s stock, valued at approximately $5,134,420.62. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don Liu sold 565 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $55,290.90. Following the completion of the transaction, the insider owned 20,441 shares of the company’s stock, valued at approximately $2,000,356.26. This trade represents a 2.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 6,681 shares of company stock worth $644,214. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Flutter Entertainment during the fourth quarter worth about $694,009,000. Capricorn Fund Managers Ltd acquired a new position in shares of Flutter Entertainment in the first quarter valued at approximately $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Flutter Entertainment by 53.3% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock worth $6,530,000 after buying an additional 22,270 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Flutter Entertainment by 286.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 52,805 shares of the company’s stock worth $5,383,000 after buying an additional 39,133 shares during the period. Finally, TimesSquare Capital Management LLC increased its stake in Flutter Entertainment by 5.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock worth $85,818,000 after buying an additional 20,203 shares during the period.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter’s portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.