Flutter Entertainment PLC (NYSE:FLUT – Get Free Report) shot up 4.7% during trading on Thursday. The stock traded as high as $79.23 and last traded at $79.3790. 271,184 shares were traded during trading, a decline of 92% from the average session volume of 3,294,191 shares. The stock had previously closed at $75.85.
Analysts Set New Price Targets
Several equities research analysts have issued reports on FLUT shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flutter Entertainment in a report on Monday, August 24th. Citizens Jmp dropped their price objective on shares of Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 8th. Wolfe Research initiated coverage on shares of Flutter Entertainment in a research note on Wednesday, September 2nd. They set an “outperform” rating and a $150.00 target price for the company. Deutsche Bank Aktiengesellschaft set a $148.00 price target on shares of Flutter Entertainment in a research note on Thursday, August 6th. Finally, New Street Research set a $110.00 price objective on Flutter Entertainment in a report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.70.
Check Out Our Latest Report on FLUT
Flutter Entertainment Price Performance
Flutter Entertainment (NYSE:FLUT – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.Flutter Entertainment’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 EPS. On average, equities research analysts anticipate that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.
Insider Activity at Flutter Entertainment
In related news, CEO Jeremy Jackson sold 2,112 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total transaction of $197,091.84. Following the sale, the chief executive officer owned 72,214 shares of the company’s stock, valued at $6,739,010.48. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $55,290.90. Following the transaction, the insider owned 20,441 shares in the company, valued at approximately $2,000,356.26. This trade represents a 2.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 6,681 shares of company stock valued at $644,214. 0.13% of the stock is currently owned by company insiders.
Institutional Trading of Flutter Entertainment
Several large investors have recently modified their holdings of FLUT. Capricorn Fund Managers Ltd acquired a new position in shares of Flutter Entertainment during the 1st quarter worth $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Flutter Entertainment by 53.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock valued at $6,530,000 after buying an additional 22,270 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Flutter Entertainment by 286.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 52,805 shares of the company’s stock valued at $5,383,000 after acquiring an additional 39,133 shares during the last quarter. Sei Investments Co. grew its position in Flutter Entertainment by 28.7% in the first quarter. Sei Investments Co. now owns 74,851 shares of the company’s stock valued at $7,631,000 after acquiring an additional 16,682 shares during the last quarter. Finally, Delta Global Management LP acquired a new position in Flutter Entertainment during the first quarter worth about $1,461,000.
Flutter Entertainment Company Profile
Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides online and retail betting, casino, poker, bingo and lottery-related products through a portfolio of brands serving customers in multiple regulated markets.
Its principal brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sky Bet in the United Kingdom, PokerStars internationally, Sisal in Italy and other markets, and tombola, an online bingo operator.
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