Flutter Entertainment PLC (NYSE:FLUT) Stock Has Average Target Price of $155.37

Key Points

• Analyst sentiment is moderately bullish: Thirty-one analysts give Flutter Entertainment an average “Moderate Buy” rating, with an average 12-month price target of $155.37. Recent targets ranged from $110 to $180, although several firms lowered their estimates.
• The stock has declined sharply: Shares opened at $74.91, near the 12-month low of $73.50 and well below the 12-month high of $257.76. The company’s latest quarterly EPS of $0.49 missed estimates, while revenue of $4.33 billion exceeded forecasts and rose 3.3% year over year.
• Insiders have recently sold shares: The CEO and COO sold stock primarily to cover tax withholding tied to vested equity awards, while insiders sold 6,681 shares worth about $644,214 over the last 90 days. Institutional ownership activity was mixed, with several investors increasing their stakes or initiating new positions.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) has received an average rating of "Moderate Buy" from the thirty-one ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, seventeen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $155.37.

Several equities research analysts recently issued reports on the company. Wedbush reduced their price objective on Flutter Entertainment from $138.00 to $126.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. BTIG Research lowered their price target on Flutter Entertainment from $113.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday. Zacks Research downgraded Flutter Entertainment from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 4th. Jefferies Financial Group reiterated a "buy" rating and issued a $180.00 target price on shares of Flutter Entertainment in a report on Sunday, August 9th. Finally, Stifel Nicolaus lowered their target price on Flutter Entertainment from $161.00 to $133.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th.

Flutter Entertainment Stock Down 2.0%

Shares of Flutter Entertainment stock opened at $74.91 on Friday. Flutter Entertainment has a twelve month low of $73.50 and a twelve month high of $257.76. The stock has a market cap of $13.00 billion, a price-to-earnings ratio of -17.42, a price-to-earnings-growth ratio of 1.90 and a beta of 1.39. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average price of $95.77 and a 200 day moving average price of $101.14.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 EPS. Equities research analysts forecast that Flutter Entertainment will post 3.48 earnings per share for the current fiscal year.

Insider Activity

In other news, COO James Bishop sold 741 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $72,514.26. Following the completion of the transaction, the chief operating officer owned 16,864 shares of the company's stock, valued at approximately $1,650,311.04. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Taylor sold 791 shares of Flutter Entertainment stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $77,407.26. Following the completion of the transaction, the chief executive officer directly owned 52,467 shares of the company's stock, valued at approximately $5,134,420.62. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 6,681 shares of company stock valued at $644,214. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in shares of Flutter Entertainment by 39.3% during the second quarter. Tidal Investments LLC now owns 11,700 shares of the company's stock valued at $1,195,000 after purchasing an additional 3,299 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Flutter Entertainment during the second quarter valued at approximately $119,000. Allworth Financial LP boosted its holdings in shares of Flutter Entertainment by 167.8% during the 2nd quarter. Allworth Financial LP now owns 557 shares of the company's stock valued at $57,000 after purchasing an additional 349 shares during the last quarter. AlphaGrep UK Ltd purchased a new position in Flutter Entertainment in the second quarter worth about $203,000. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of Flutter Entertainment by 65.8% during the 2nd 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.

About Flutter Entertainment

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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