Flutter Entertainment’s (FLUT) “Neutral” Rating Reiterated at Rothschild & Co Redburn

Rothschild & Co Redburn restated their neutral rating on shares of Flutter Entertainment (NYSE:FLUT) in a report released on Monday, Marketbeat reports. They currently have a $119.00 price objective on the stock, down from their prior price objective of $169.00.

Several other equities analysts have also recently weighed in on the company. Citizens Jmp cut their price objective on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $180.00 price target on shares of Flutter Entertainment in a research report on Sunday, August 9th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Flutter Entertainment in a research note on Thursday, September 3rd. Wall Street Zen downgraded shares of Flutter Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Stifel Nicolaus reduced their price target on shares of Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average price target of $155.48.

Flutter Entertainment Price Performance

NYSE FLUT opened at $86.16 on Monday. Flutter Entertainment has a 1 year low of $85.85 and a 1 year high of $285.65. The company has a fifty day simple moving average of $99.41 and a 200 day simple moving average of $102.62. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The company has a market cap of $14.95 billion, a P/E ratio of -20.04, a P/E/G ratio of 2.25 and a beta of 1.26.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business earned $2.95 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Flutter Entertainment will post 3.48 EPS for the current year.

Insider Activity at Flutter Entertainment

In related news, insider Don Liu sold 565 shares of Flutter Entertainment stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $55,290.90. Following the completion of the transaction, the insider directly owned 20,441 shares of the company’s stock, valued at $2,000,356.26. This trade represents a 2.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Bishop sold 741 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $72,514.26. Following the completion of the transaction, the chief operating officer directly owned 16,864 shares in the company, valued at $1,650,311.04. The trade was a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 6,681 shares of company stock valued at $644,214. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Flutter Entertainment

A number of large investors have recently modified their holdings of the stock. IFP Advisors Inc increased its holdings in Flutter Entertainment by 93.8% in the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after purchasing an additional 90 shares during the last quarter. LM Advisors LLC acquired a new position in Flutter Entertainment in the fourth quarter valued at about $46,000. Parallel Advisors LLC boosted its holdings in Flutter Entertainment by 489.7% during the first quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock worth $47,000 after buying an additional 382 shares during the last quarter. CX Institutional boosted its holdings in Flutter Entertainment by 729.7% during the second quarter. CX Institutional now owns 531 shares of the company’s stock worth $54,000 after buying an additional 467 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Flutter Entertainment by 167.8% during the 2nd quarter. Allworth Financial LP now owns 557 shares of the company’s stock worth $57,000 after buying an additional 349 shares during the period.

About Flutter Entertainment

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.