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

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

Several other equities research analysts have also recently commented on the company. Hsbc Global Res raised Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Barclays lowered their target price on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Canaccord Genuity Group began coverage on Flutter Entertainment in a report on Wednesday, June 25th. They issued a "buy" rating and a $330.00 target price on the stock. BTIG Research lowered their target price on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Truist Financial lowered their target price on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $318.52.

Flutter Entertainment Stock Up 0.7%

Shares of NYSE:FLUT traded up $2.13 on Tuesday, hitting $306.92. 1,908,315 shares of the company traded hands, compared to its average volume of 2,109,152. Flutter Entertainment has a 52 week low of $175.59 and a 52 week high of $309.65. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $264.66 and a 200-day simple moving average of $255.36. The company has a market cap of $54.23 billion and a PE ratio of 106.20.

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 for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. Flutter Entertainment's revenue was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current year.

Insider Activity

In other news, Director Nancy Cruickshank sold 281 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Amy Howe sold 2,315 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $243.50, for a total value of $563,702.50. Following the transaction, the chief executive officer directly owned 73,947 shares in the company, valued at approximately $18,006,094.50. This represents 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 worth $1,894,934.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FLUT. Parvus Asset Management Europe Ltd purchased a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $2,146,227,000. Norges Bank purchased a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $946,681,000. Invesco Ltd. purchased a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $621,680,000. Lone Pine Capital LLC purchased a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $494,291,000. Finally, Capital World Investors boosted its position in shares of Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after buying an additional 1,635,241 shares during the period.

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.