Cfra cut shares of Flutter Entertainment (NYSE:FLUT – Free Report) from a buy rating to a hold rating in a research report released on Tuesday,FinViz reports. The brokerage currently has $94.00 target price on the stock.
FLUT has been the topic of a number of other research reports. Wall Street Zen raised shares of Flutter Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Benchmark lowered their target price on shares of Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Sanford C. Bernstein reduced their price target on shares of Flutter Entertainment from $110.00 to $100.00 and set a “market perform” rating for the company in a research report on Tuesday, November 3rd. Finally, Wedbush reduced their price target on shares of Flutter Entertainment from $126.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.75.
Read Our Latest Report on FLUT
Flutter Entertainment Price Performance
Flutter Entertainment stock opened at $82.16 on Tuesday. Flutter Entertainment has a one year low of $72.56 and a one year high of $229.86. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.91 and a current ratio of 0.91. The business has a fifty day moving average of $84.07 and a two-hundred day moving average of $102.98. The company has a market cap of $14.29 billion, a P/E ratio of 41.10 and a beta of 1.27.
Flutter Entertainment (NYSE:FLUT – Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the firm posted $1.64 earnings per share. Flutter Entertainment’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts predict that Flutter Entertainment will post 3.05 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, CFO Robert Coldrake sold 991 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $82.34, for a total value of $81,598.94. Following the sale, the chief financial officer directly owned 23,888 shares in the company, valued at $1,966,937.92. This represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Jackson sold 1,762 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $172,429.32. Following the transaction, the chief executive officer directly owned 70,452 shares of the company’s stock, valued at approximately $6,894,432.72. This trade represents a 2.44% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 24,524 shares of company stock valued at $2,110,519. Corporate insiders own 0.13% of the company’s stock.
Hedge Funds Weigh In On Flutter Entertainment
Several hedge funds have recently bought and sold shares of FLUT. TD Waterhouse Canada Inc. raised its holdings in shares of Flutter Entertainment by 65.8% in the second quarter. TD Waterhouse Canada Inc. now owns 630 shares of the company’s stock worth $67,000 after acquiring an additional 250 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Flutter Entertainment by 50.6% in the third quarter. Parallel Advisors LLC now owns 917 shares of the company’s stock valued at $68,000 after acquiring an additional 308 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Flutter Entertainment by 3.6% during the first quarter. The Manufacturers Life Insurance Company now owns 9,447 shares of the company’s stock valued at $963,000 after acquiring an additional 328 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Flutter Entertainment by 167.8% during the second quarter. Allworth Financial LP now owns 557 shares of the company’s stock valued at $57,000 after acquiring an additional 349 shares during the last quarter. Finally, CX Institutional boosted its stake in shares of Flutter Entertainment by 729.7% during the second quarter. CX Institutional now owns 531 shares of the company’s stock valued at $54,000 after acquiring an additional 467 shares during the last quarter.
Flutter Entertainment Company Profile
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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