Flutter Entertainment (NYSE:FLUT) Reaches New 1-Year Low – Here’s Why

Flutter Entertainment PLC (NYSE:FLUT) reached a new 52-week low during trading on Thursday . The company traded as low as $189.40 and last traded at $193.3760, with a volume of 1707499 shares traded. The stock had previously closed at $193.19.

Analyst Ratings Changes

Several brokerages have recently weighed in on FLUT. Zacks Research downgraded shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. UBS Group reaffirmed a “buy” rating and set a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Oppenheimer decreased their price objective on shares of Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, October 14th. Citizens Jmp raised their target price on Flutter Entertainment from $340.00 to $345.00 and gave the company a “market outperform” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings lowered Flutter Entertainment from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $317.67.

Flutter Entertainment Stock Performance

The company’s fifty day simple moving average is $247.45 and its two-hundred day simple moving average is $267.37. The company has a market capitalization of $33.89 billion, a price-to-earnings ratio of 95.26 and a beta of 1.84. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the business posted $1.27 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a stock buyback plan on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to buy up to 0.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the transaction, the chief executive officer owned 69,850 shares in the company, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. ORG Partners LLC grew its holdings in shares of Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after purchasing an additional 43 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after purchasing an additional 45 shares during the period. OneDigital Investment Advisors LLC raised its position in shares of Flutter Entertainment by 1.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after buying an additional 49 shares in the last quarter. PARUS FINANCE UK Ltd lifted its position in Flutter Entertainment by 1.5% in the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock worth $742,000 after purchasing an additional 50 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Flutter Entertainment by 5.6% in the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after buying an additional 50 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.