Flutter Entertainment’s (FLUT) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Flutter Entertainment (NYSE:FLUT) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $365.00 price objective on the stock.

FLUT has been the topic of several other research reports. Stifel Nicolaus upped their price objective on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Needham & Company LLC upped 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. Jefferies Financial Group began coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They set a “buy” rating and a $380.00 price objective on the stock. Sanford C. Bernstein reissued a “market perform” rating on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Truist Financial upped their price objective on shares of Flutter Entertainment from $280.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment presently has an average rating of “Moderate Buy” and an average target price of $337.32.

Flutter Entertainment Stock Up 2.7%

FLUT stock opened at $256.31 on Wednesday. The company’s 50 day simple moving average is $290.24 and its 200-day simple moving average is $266.36. The firm has a market capitalization of $45.14 billion, a PE ratio of 126.26 and a beta of 1.91. Flutter Entertainment has a 12 month low of $196.88 and a 12 month high of $313.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.08 by $0.87. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. 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. Equities analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

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

Insider Activity at Flutter Entertainment

In other news, insider James Philip Bishop sold 1,904 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares of the company’s stock, valued at $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the completion of the sale, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at $21,367,813.50. The trade was a 5.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,396 shares of company stock worth $6,759,745. Company insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently made changes to their positions in FLUT. GPS Wealth Strategies Group LLC increased its position in shares of Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Flutter Entertainment in the first quarter worth $27,000. ORG Partners LLC increased its position in shares of Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after acquiring an additional 75 shares in the last quarter. Barrett & Company Inc. acquired a new stake in shares of Flutter Entertainment in the second quarter worth $29,000. Finally, Parallel Advisors LLC increased its position in shares of Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after acquiring an additional 60 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.