Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $271.00 at BTIG Research

Flutter Entertainment (NYSE:FLUT) had its price objective reduced by research analysts at BTIG Research from $321.00 to $271.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 25.54% from the company’s previous close.

A number of other equities research analysts have also commented on FLUT. Oppenheimer reduced their price target on Flutter Entertainment from $350.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 14th. Bank of America reiterated a “neutral” rating and set a $250.00 price objective (down previously from $325.00) on shares of Flutter Entertainment in a research note on Tuesday, November 4th. Stifel Nicolaus cut their price target on Flutter Entertainment from $356.00 to $339.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Peel Hunt cut shares of Flutter Entertainment from an “add” rating to a “hold” rating in a report on Friday, August 8th. Finally, Macquarie boosted their price objective on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $323.56.

Flutter Entertainment Stock Down 7.9%

Shares of FLUT traded down $18.59 during mid-day trading on Thursday, hitting $215.86. 1,024,219 shares of the company’s stock were exchanged, compared to its average volume of 2,317,254. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market cap of $38.01 billion, a price-to-earnings ratio of 105.66 and a beta of 1.84. Flutter Entertainment has a twelve month low of $196.88 and a twelve month high of $313.68. The firm has a fifty day moving average of $257.11 and a two-hundred day moving average of $268.97.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the company posted $1.27 earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has approved a stock repurchase plan on Friday, August 8th that allows the company to repurchase $245.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the sale, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. The trade was a 5.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the transaction, the chief executive officer directly owned 31,944 shares in the company, valued at $9,341,064.48. This represents a 6.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

A number of large investors have recently added to or reduced their stakes in FLUT. ORG Partners LLC grew its stake in shares of Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after acquiring an additional 43 shares during the last quarter. MML Investors Services LLC increased its stake in 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 acquiring an additional 45 shares during the period. OneDigital Investment Advisors LLC lifted its position in shares of Flutter Entertainment by 1.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after acquiring an additional 49 shares during the period. PARUS FINANCE UK Ltd increased its position in shares of Flutter Entertainment by 1.5% during 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 during the period. Finally, Versant Capital Management Inc raised its stake 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 purchasing an additional 50 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.