Flutter Entertainment PLC (NYSE:FLUT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Flutter Entertainment PLC (NYSE:FLUT) have been given a consensus recommendation of “Moderate Buy” by the twenty-five research firms that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $336.00.

FLUT has been the subject of a number of recent research reports. Macquarie lifted their price objective on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Bank of America lifted their price objective on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Benchmark reduced their price objective on shares of Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. BTIG Research reduced their price objective on shares of Flutter Entertainment from $357.00 to $324.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Finally, Needham & Company LLC lifted their price objective on shares of Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, August 8th.

Insider Activity

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer directly owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This trade represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amy Howe sold 4,097 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the transaction, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock valued at $6,759,745 in the last quarter. 0.09% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FLUT. Farther Finance Advisors LLC boosted its holdings in Flutter Entertainment by 90.6% in the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 87 shares during the period. Sowell Financial Services LLC bought a new stake in shares of Flutter Entertainment during the 1st quarter worth $376,000. Deltec Asset Management LLC bought a new stake in shares of Flutter Entertainment during the 1st quarter worth $443,000. Canton Hathaway LLC lifted its holdings in shares of Flutter Entertainment by 360.3% during the 1st quarter. Canton Hathaway LLC now owns 6,490 shares of the company’s stock worth $1,438,000 after acquiring an additional 5,080 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Flutter Entertainment by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock worth $1,060,000 after acquiring an additional 67 shares during the last quarter.

Flutter Entertainment Trading Down 0.5%

Shares of FLUT stock opened at $251.00 on Friday. The company has a 50 day moving average of $276.30 and a 200-day moving average of $268.13. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment has a 12-month low of $196.88 and a 12-month high of $313.68. The firm has a market cap of $44.20 billion, a P/E ratio of 123.65 and a beta of 1.91.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has approved a stock buyback plan on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to repurchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.