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

Equities research analysts at Jefferies Financial Group initiated coverage on shares of Flutter Entertainment (NYSE:FLUT - Get Free Report) in a report released on Tuesday, MarketBeat.com reports. The firm set a "buy" rating and a $380.00 price target on the stock. Jefferies Financial Group's price objective would suggest a potential upside of 33.96% from the stock's previous close.

A number of other research firms have also recently commented on FLUT. JMP Securities reissued a "market outperform" rating and set a $301.00 target price on shares of Flutter Entertainment in a research report on Thursday, June 12th. Sanford C. Bernstein began coverage on shares of Flutter Entertainment in a research note on Wednesday, June 4th. They set a "market perform" rating and a $275.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and set a $310.00 target price on shares of Flutter Entertainment in a research note on Tuesday, June 10th. Stifel Nicolaus lowered their price target 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. Finally, BTIG Research reduced their price objective on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flutter Entertainment has an average rating of "Moderate Buy" and a consensus price target of $308.67.

Flutter Entertainment Trading Up 0.3%

FLUT stock traded up $0.82 during midday trading on Tuesday, reaching $283.67. 442,107 shares of the company's stock traded hands, compared to its average volume of 2,083,415. The company has a market capitalization of $50.12 billion and a P/E ratio of 98.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment has a fifty-two week low of $175.59 and a fifty-two week high of $299.73. The business has a 50-day moving average price of $256.79 and a two-hundred day moving average price of $253.48.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results 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 business 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 company's quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. Equities research analysts forecast that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, Director Alfred F. Hurley, Jr. sold 265 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $243.94, for a total transaction of $64,644.10. Following the completion of the sale, the director directly owned 3,518 shares of the company's stock, valued at approximately $858,180.92. This represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine M. Mccarthy sold 264 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $244.12, for a total transaction of $64,447.68. Following the sale, the director directly owned 559 shares of the company's stock, valued at $136,463.08. This represents a 32.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,770 shares of company stock valued at $1,894,934.

Hedge Funds Weigh In On Flutter Entertainment

A number of large investors have recently made changes to their positions in FLUT. US Bancorp DE increased its holdings in shares of Flutter Entertainment by 913.9% in the 4th quarter. US Bancorp DE now owns 2,403 shares of the company's stock valued at $621,000 after purchasing an additional 2,166 shares during the period. Jones Financial Companies Lllp increased its holdings in Flutter Entertainment by 151.0% in the fourth quarter. Jones Financial Companies Lllp now owns 389 shares of the company's stock worth $101,000 after buying an additional 234 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Flutter Entertainment by 895.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 438 shares of the company's stock worth $113,000 after buying an additional 394 shares during the last quarter. Atria Investments Inc acquired a new position in Flutter Entertainment in the fourth quarter worth approximately $204,000. Finally, Proficio Capital Partners LLC increased its holdings in Flutter Entertainment by 13.0% in the fourth quarter. Proficio Capital Partners LLC now owns 9,992 shares of the company's stock worth $2,582,000 after buying an additional 1,152 shares during the last quarter.

Flutter Entertainment Company Profile

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.