Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $330.00 at Stifel Nicolaus

Flutter Entertainment (NYSE:FLUT) had its target price lowered by Stifel Nicolaus from $339.00 to $330.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 59.39% from the stock’s current price.

Several other research analysts also recently issued reports on FLUT. Macquarie lifted their price target on Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. UBS Group restated a “buy” rating and issued a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Sanford C. Bernstein reduced their price target on Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating on the stock in a research report on Monday, November 3rd. Citigroup lowered Flutter Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Peel Hunt lowered shares of Flutter Entertainment from an “add” rating to a “hold” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment has an average rating of “Moderate Buy” and an average target price of $324.61.

Flutter Entertainment Price Performance

NYSE:FLUT traded down $27.41 during trading hours on Thursday, hitting $207.04. The company’s stock had a trading volume of 5,254,051 shares, compared to its average volume of 2,337,827. The business’s 50-day moving average is $257.11 and its two-hundred day moving average is $268.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $36.46 billion, a PE ratio of 102.02 and a beta of 1.84. Flutter Entertainment has a 52-week low of $196.88 and a 52-week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its board has authorized a stock buyback program on Friday, August 8th that allows the company to repurchase $245.00 million in shares. This repurchase authorization allows the company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer owned 31,944 shares in the company, valued at $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the sale, the chief executive officer owned 69,850 shares in the company, valued at $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is owned by insiders.

Institutional Trading of Flutter Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Flutter Entertainment by 1.7% in the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock worth $4,460,076,000 after acquiring an additional 301,879 shares during the last quarter. Parvus Asset Management Jersey Ltd bought a new position in Flutter Entertainment during the 2nd quarter valued at about $2,231,266,000. Capital International Investors boosted its holdings in shares of Flutter Entertainment by 4.9% during the 3rd quarter. Capital International Investors now owns 3,256,764 shares of the company’s stock valued at $827,841,000 after acquiring an additional 153,390 shares during the last quarter. Norges Bank purchased a new position in shares of Flutter Entertainment during the second quarter valued at approximately $930,349,000. Finally, State Street Corp lifted its position in Flutter Entertainment by 120.3% during the second quarter. State Street Corp now owns 3,086,730 shares of the company’s stock valued at $882,064,000 after purchasing an additional 1,685,556 shares during the period.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.