Flutter Entertainment (NYSE:FLUT) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Flutter Entertainment (NYSE:FLUT - Free Report) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $380.00 target price on the stock.

FLUT has been the topic of several other research reports. Barclays decreased their price objective on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Citizens Jmp decreased their price objective on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Truist Financial decreased their price objective on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Macquarie reissued an "outperform" rating and set a $340.00 price objective (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Flutter Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $310.10.

Flutter Entertainment Stock Performance

FLUT traded up $0.40 during midday trading on Tuesday, reaching $289.98. The company's stock had a trading volume of 1,446,991 shares, compared to its average volume of 2,104,397. The stock has a market cap of $51.24 billion and a P/E ratio of 100.34. The company has a fifty day simple moving average of $260.42 and a 200 day simple moving average of $254.32. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. Flutter Entertainment has a twelve month low of $175.59 and a twelve month high of $299.73.

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

Insider Buying and Selling

In other Flutter Entertainment news, Director Nancy Cruickshank sold 281 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $69,044.51. Following the transaction, the director owned 1,797 shares of the company's stock, valued at approximately $441,540.87. The trade was a 13.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 2,315 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.50, for a total value of $563,702.50. Following the sale, the chief executive officer owned 73,947 shares of the company's stock, valued at approximately $18,006,094.50. The trade was a 3.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,770 shares of company stock valued at $1,894,934.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Parvus Asset Management Europe Ltd bought a new stake in Flutter Entertainment in the fourth quarter valued at about $2,146,227,000. Norges Bank bought a new stake in Flutter Entertainment in the fourth quarter valued at about $946,681,000. Invesco Ltd. bought a new stake in Flutter Entertainment in the fourth quarter valued at about $621,680,000. Lone Pine Capital LLC bought a new stake in Flutter Entertainment in the fourth quarter valued at about $494,291,000. Finally, Capital World Investors increased its holdings in Flutter Entertainment by 11.9% in the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after purchasing an additional 1,635,241 shares during 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.