Bank of America Forecasts Strong Price Appreciation for Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its target price increased by investment analysts at Bank of America from $295.00 to $330.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price objective would suggest a potential upside of 13.91% from the company's previous close.

A number of other brokerages also recently issued reports on FLUT. Stifel Nicolaus reduced their price objective on shares of Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. JMP Securities restated a "market outperform" rating and set a $301.00 price target on shares of Flutter Entertainment in a research note on Thursday, June 12th. BTIG Research lowered their target price on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial cut their target price on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Barclays reduced their price target on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Flutter Entertainment presently has an average rating of "Moderate Buy" and an average target price of $310.10.

Flutter Entertainment Trading Up 1.2%

NYSE:FLUT opened at $289.71 on Friday. The business's 50-day simple moving average is $259.59 and its 200 day simple moving average is $254.13. Flutter Entertainment has a one year low of $175.59 and a one year high of $299.73. The stock has a market cap of $51.19 billion and a price-to-earnings ratio of 100.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, sell-side analysts predict that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Flutter Entertainment

In related news, Director Christine M. Mccarthy sold 264 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the sale, the director directly owned 559 shares of the company's stock, valued at $136,463.08. The trade was a 32.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Holly K. Koeppel sold 267 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.36, for a total value of $65,511.12. Following the completion of the transaction, the director owned 2,556 shares in the company, valued at approximately $627,140.16. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,770 shares of company stock valued at $1,894,934 in the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. Harvest Fund Management Co. Ltd purchased a new stake in shares of Flutter Entertainment in the fourth quarter valued at about $25,000. Farther Finance Advisors LLC increased its position in shares of Flutter Entertainment by 585.7% in the fourth quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after acquiring an additional 82 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its stake in shares of Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after buying an additional 110 shares during the last quarter. SVB Wealth LLC bought a new stake in Flutter Entertainment in the 1st quarter valued at $27,000. Finally, Parallel Advisors LLC boosted its stake in shares of Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after purchasing an additional 60 shares in the last quarter.

About Flutter Entertainment

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.

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