Flutter Entertainment (NYSE:FLUT) Sets New 1-Year Low After Analyst Downgrade

Flutter Entertainment PLC (NYSE:FLUT)’s stock price hit a new 52-week low during mid-day trading on Friday after Barclays lowered their price target on the stock from $352.00 to $325.00. Barclays currently has an overweight rating on the stock. Flutter Entertainment traded as low as $193.27 and last traded at $199.5560, with a volume of 1668998 shares changing hands. The stock had previously closed at $201.00.

FLUT has been the subject of several other reports. Bank of America reissued a “neutral” rating and issued a $250.00 price objective (down from $325.00) on shares of Flutter Entertainment in a research note on Tuesday, November 4th. Sanford C. Bernstein reduced their price target on shares of Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. BTIG Research lowered their price objective on shares of Flutter Entertainment from $321.00 to $271.00 and set a “buy” rating on the stock in a research report on Thursday. JMP Securities cut their target price on shares of Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 1st. Finally, Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $319.22.

Insider Activity at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the business’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 sale, the chief executive officer directly owned 31,944 shares in the company, valued at approximately $9,341,064.48. The trade was a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 4,097 shares of the company’s 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 sale, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This represents a 5.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Flutter Entertainment by 120.1% in the second quarter. Bank of New York Mellon Corp now owns 454,660 shares of the company’s stock valued at $129,924,000 after acquiring an additional 248,109 shares during the period. Jefferies Financial Group Inc. lifted its position in shares of Flutter Entertainment by 5.4% during the 1st quarter. Jefferies Financial Group Inc. now owns 18,163 shares of the company’s stock worth $3,995,000 after buying an additional 928 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Flutter Entertainment in the first quarter valued at $1,700,000. Fortis Capital Advisors LLC acquired a new position in Flutter Entertainment during the second quarter worth $665,000. Finally, Corton Capital Inc. acquired a new stake in shares of Flutter Entertainment in the 2nd quarter valued at $556,000.

Flutter Entertainment Trading Down 0.7%

The firm has a market cap of $35.13 billion, a P/E ratio of 98.27 and a beta of 1.84. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The company’s fifty day moving average price is $255.25 and its two-hundred day moving average price is $268.50.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, November 12th. The company reported $1.64 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 firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the business earned $1.27 earnings per share. The company’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. As a group, sell-side analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

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

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.