Flutter Entertainment (NYSE:FLUT – Get Free Report) was upgraded by equities research analysts at Wolfe Research to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.
FLUT has been the topic of several other research reports. Wells Fargo & Company lowered their price objective on shares of Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (d)” rating on shares of Flutter Entertainment in a research note on Monday, August 24th. Wedbush reduced their price target on shares of Flutter Entertainment from $138.00 to $126.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Citizens Jmp cut their price objective on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. began coverage on shares of Flutter Entertainment in a research report on Wednesday, August 12th. They set a “neutral” rating and a $114.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average price target of $158.76.
Check Out Our Latest Report on Flutter Entertainment
Flutter Entertainment Stock Up 5.3%
Flutter Entertainment (NYSE:FLUT – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.95 earnings per share. Analysts expect that Flutter Entertainment will post 3.48 EPS for the current year.
Insider Activity at Flutter Entertainment
In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total value of $197,091.84. Following the transaction, the chief executive officer owned 72,214 shares in the company, valued at approximately $6,739,010.48. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.13% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Flutter Entertainment
A number of large investors have recently made changes to their positions in the business. Zions Bancorporation National Association UT raised its holdings in shares of Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. EFG International AG purchased a new position in Flutter Entertainment during the 4th quarter valued at $36,000. IFP Advisors Inc increased its position in Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after purchasing an additional 90 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after purchasing an additional 75 shares in the last quarter. Finally, LM Advisors LLC bought a new position in Flutter Entertainment in the 4th quarter worth $46,000.
Flutter Entertainment Company Profile
Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.
Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.
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