Flutter Entertainment (NYSE:FLUT) Given "Buy" Rating at Needham & Company LLC

Flutter Entertainment (NYSE:FLUT - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $310.00 target price on the stock. Needham & Company LLC's target price would suggest a potential upside of 15.17% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. JMP Securities decreased their price target on shares of Flutter Entertainment from $317.00 to $301.00 and set a "market outperform" rating for the company in a research note on Thursday, June 5th. Benchmark reissued a "buy" rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research note on Monday, April 21st. Barclays cut their price target on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. 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. Finally, Citigroup reiterated an "outperform" rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $303.79.

Flutter Entertainment Stock Up 0.6%

Shares of FLUT stock traded up $1.65 during trading on Tuesday, reaching $269.16. The company's stock had a trading volume of 1,261,000 shares, compared to its average volume of 1,882,899. The business has a fifty day moving average price of $238.60 and a 200-day moving average price of $253.71. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. Flutter Entertainment has a one year low of $174.03 and a one year high of $299.73. The company has a market cap of $47.56 billion and a price-to-earnings ratio of 93.14.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the business posted $0.10 EPS. The company's revenue for the quarter was up 7.9% on a year-over-year basis. Analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current year.

Insider Activity

In related news, Director Alfred F. Hurley, Jr. sold 265 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $243.94, for a total value of $64,644.10. Following the completion of the sale, the director now directly owns 3,518 shares of the company's stock, valued at $858,180.92. The trade was a 7.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John A. Bryant sold 418 shares of the company'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 $102,706.78. Following the sale, the director now owns 5,956 shares of the company's stock, valued at $1,463,448.76. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,770 shares of company stock valued at $1,894,934.

Institutional Investors Weigh In On Flutter Entertainment

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock valued at $25,000 after buying an additional 82 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Flutter Entertainment in the 4th quarter valued at about $25,000. IFP Advisors Inc lifted its holdings in Flutter Entertainment by 244.1% during the fourth quarter. IFP Advisors Inc now owns 117 shares of the company's stock worth $31,000 after buying an additional 83 shares during the period. GPS Wealth Strategies Group LLC grew its stake in Flutter Entertainment by 1,375.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in shares of Flutter Entertainment during the 1st quarter worth approximately $27,000.

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.