Flutter Entertainment PLC (NYSE:FLUT) Receives $187.42 Consensus PT from Analysts

Flutter Entertainment PLC (NYSE:FLUT) has earned a consensus rating of “Moderate Buy” from the thirty research firms that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, fifteen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $187.4167.

A number of research firms have recently commented on FLUT. Wells Fargo & Company increased their price objective on Flutter Entertainment from $161.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, June 12th. BTIG Research decreased their target price on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Benchmark lowered their price target on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Truist Financial dropped their price target on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Flutter Entertainment in a report on Wednesday, May 27th.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $106.04 on Friday. The company has a market cap of $18.45 billion, a P/E ratio of -49.55, a PEG ratio of 1.36 and a beta of 1.31. The firm has a fifty day moving average price of $101.94 and a 200 day moving average price of $132.93. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment has a 12 month low of $91.52 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.Flutter Entertainment’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $1.59 earnings per share. Sell-side analysts predict that Flutter Entertainment will post 5 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In related news, insider Don H. Liu bought 1,459 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average cost of $102.78 per share, with a total value of $149,956.02. Following the transaction, the insider directly owned 22,265 shares of the company’s stock, valued at approximately $2,288,396.70. This represents a 7.01% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John A. Bryant purchased 1,950 shares of Flutter Entertainment stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $102.86 per share, with a total value of $200,577.00. Following the completion of the transaction, the director owned 9,235 shares of the company’s stock, valued at $949,912.10. The trade was a 26.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 10,453 shares of company stock worth $1,045,526 and sold 5,994 shares worth $577,293. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JFS Wealth Advisors LLC acquired a new stake in shares of Flutter Entertainment in the 3rd quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its position in Flutter Entertainment by 219.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the period. Zions Bancorporation National Association UT increased its position in Flutter Entertainment by 1,685.7% during the fourth 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. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after buying an additional 75 shares during the last quarter. Finally, EFG International AG purchased a new stake in Flutter Entertainment in the fourth quarter valued at approximately $36,000.

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.