Flutter Entertainment PLC (NYSE:FLUT – Get Free Report)’s share price crossed above its 50 day moving average during trading on Wednesday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock has a 50 day moving average of $84.47 and traded as high as $86.68. Flutter Entertainment shares last traded at $85.1030, with a volume of 2,802,388 shares traded.
FLUT has been the subject of a number of other research reports. Stifel Nicolaus set a $124.00 price objective on Flutter Entertainment in a research note on Wednesday, November 4th. Zacks Research lowered Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Needham & Company LLC lowered their target price on Flutter Entertainment from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Moffett Nathanson reissued a “neutral” rating and issued a $92.00 price target on shares of Flutter Entertainment in a report on Thursday, October 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $160.00 price target on shares of Flutter Entertainment in a report on Wednesday, November 4th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.75.
Insider Activity at Flutter Entertainment
In related news, CEO Jeremy Jackson sold 2,112 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total value of $197,091.84. Following the sale, the chief executive officer directly owned 72,214 shares in the company, valued at approximately $6,739,010.48. The trade was a 2.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu sold 565 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $55,290.90. Following the sale, the insider directly owned 20,441 shares in the company, valued at approximately $2,000,356.26. This trade represents a 2.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 11,399 shares of company stock worth $1,032,694 in the last three months. Corporate insiders own 0.13% of the company’s stock.
Institutional Trading of Flutter Entertainment
Several hedge funds and other institutional investors have recently modified their holdings of FLUT. Parvus Asset Management Jersey Ltd purchased a new stake in shares of Flutter Entertainment during the 2nd quarter valued at approximately $1,552,097,267. Hsbc Holdings PLC grew its stake in Flutter Entertainment by 33,988.7% in the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after buying an additional 5,589,099 shares in the last quarter. Amundi grew its stake in Flutter Entertainment by 463.7% in the 1st quarter. Amundi now owns 2,059,906 shares of the company’s stock valued at $210,007,000 after buying an additional 1,694,474 shares in the last quarter. WGI DM LLC raised its holdings in Flutter Entertainment by 102.2% during the 3rd quarter. WGI DM LLC now owns 961,047 shares of the company’s stock valued at $71,636,000 after acquiring an additional 485,678 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Flutter Entertainment during the 1st quarter valued at $40,562,000.
Flutter Entertainment Price Performance
The firm has a market cap of $14.80 billion, a P/E ratio of -16.09 and a beta of 1.27. The business’s fifty day simple moving average is $84.47 and its 200-day simple moving average is $103.45. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.49.
Flutter Entertainment (NYSE:FLUT – Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.50). Flutter Entertainment had a positive return on equity of 4.38% and a negative net margin of 5.37%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the business earned $1.64 earnings per share. Flutter Entertainment’s revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Flutter Entertainment PLC will post 3.05 EPS for the current fiscal year.
About Flutter Entertainment
Flutter Entertainment is a global sports betting and gaming company that provides online and retail wagering, casino gaming and poker services. Its brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sportsbet in Australia, and PokerStars in international markets. The company serves customers across the United States, the United Kingdom and Ireland, Australia, and other international markets. Its offerings include online sports betting, iGaming products such as casino games, poker platforms, and, in some markets, betting shops.
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