Flutter Entertainment (NYSE:FLUT) Receives “Outperform” Rating from Macquarie

Macquarie reissued their outperform rating on shares of Flutter Entertainment (NYSE:FLUT) in a research report report published on Thursday,Benzinga reports. The firm currently has a $340.00 target price on the stock, up from their previous target price of $330.00.

Several other equities research analysts have also recently commented on FLUT. Susquehanna dropped their price target on shares of Flutter Entertainment from $317.00 to $315.00 and set a “positive” rating on the stock in a research report on Wednesday, March 5th. JMP Securities dropped their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating on the stock in a report on Monday, April 14th. BTIG Research reduced their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company upped their price target on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, Stifel Nicolaus reduced their price objective on Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Twenty research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Buy” and an average target price of $306.28.

Flutter Entertainment Stock Down 2.7 %

FLUT stock opened at $234.76 on Thursday. The firm’s 50-day moving average is $234.03 and its two-hundred day moving average is $253.56. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $41.48 billion and a price-to-earnings ratio of 81.23. Flutter Entertainment has a 52 week low of $174.03 and a 52 week high of $299.73.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts forecast that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Insider Activity

In other Flutter Entertainment news, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the sale, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the transaction, the chief executive officer now owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This trade represents a 15.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Trading of Flutter Entertainment

Hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. lifted its stake in shares of Flutter Entertainment by 58.8% in the fourth quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after buying an additional 50 shares during the period. Harbor Investment Advisory LLC increased its position in shares of Flutter Entertainment by 64.1% during the fourth quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares during the period. PARUS FINANCE UK Ltd raised its stake in shares of Flutter Entertainment by 1.5% in the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock valued at $742,000 after purchasing an additional 50 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Flutter Entertainment by 3.0% in the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock valued at $407,000 after purchasing an additional 53 shares in the last quarter. Finally, Seelaus Asset Management LLC boosted its stake in Flutter Entertainment by 6.4% during the fourth quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock worth $236,000 after buying an additional 55 shares in the last quarter.

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.