Flutter Entertainment (NYSE:FLUT) Price Target Raised to $323.00 at JMP Securities

Flutter Entertainment (NYSE:FLUT - Free Report) had its price objective increased by JMP Securities from $301.00 to $323.00 in a research note published on Tuesday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities research analysts also recently issued reports on the company. Benchmark restated a "buy" rating and set a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Bank of America boosted their target price on Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. BTIG Research cut their price target on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Macquarie restated an "outperform" rating and issued a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Two 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $315.81.

Flutter Entertainment Stock Performance

Shares of FLUT stock traded up $3.10 during trading on Tuesday, hitting $296.51. The company's stock had a trading volume of 1,850,835 shares, compared to its average volume of 2,103,482. The company has a market cap of $52.39 billion and a PE ratio of 102.60. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $263.39 and a 200-day moving average of $255.04. Flutter Entertainment has a 52 week low of $175.59 and a 52 week high of $299.73.

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 return on equity of 11.76% and a net margin of 4.17%. The company had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter in the previous year, the business earned $0.10 EPS. The company's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, research analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current year.

Insider Buying and Selling

In other Flutter Entertainment news, Director John A. Bryant sold 418 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $102,706.78. Following the completion of the transaction, the director owned 5,956 shares of the company's stock, valued at approximately $1,463,448.76. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the sale, the chief executive officer directly owned 73,947 shares in the company, valued at $18,006,094.50. This trade represents a 3.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock worth $1,894,934 over the last 90 days.

Institutional Trading of Flutter Entertainment

Institutional investors have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd bought a new stake in shares of Flutter Entertainment during the 4th quarter valued at about $25,000. Farther Finance Advisors LLC increased its holdings 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 purchasing an additional 82 shares during the last quarter. GPS Wealth Strategies Group LLC increased its stake in Flutter Entertainment by 1,375.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after acquiring an additional 110 shares during the last quarter. SVB Wealth LLC purchased a new stake in Flutter Entertainment during the first quarter valued at $27,000. Finally, ORG Partners LLC raised its position in shares of Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company's stock valued at $28,000 after buying an additional 75 shares in 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.