Flutter Entertainment (NYSE:FLUT) Stock Price Expected to Rise, Oppenheimer Analyst Says

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its price target boosted by equities research analysts at Oppenheimer from $310.00 to $350.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price target points to a potential upside of 14.82% from the company's current price.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target on the stock. JMP Securities increased their price objective on shares of Flutter Entertainment from $301.00 to $323.00 and gave the company a "market outperform" rating in a report on Tuesday, July 15th. Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Truist Financial increased their price objective on shares of Flutter Entertainment from $280.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Barclays reiterated an "overweight" rating and issued a $350.00 price objective (up from $293.00) on shares of Flutter Entertainment in a report on Friday, July 18th. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $322.10.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT traded up $4.78 during trading hours on Tuesday, hitting $304.82. The stock had a trading volume of 1,392,446 shares, compared to its average volume of 2,336,736. The stock's fifty day simple moving average is $270.65 and its 200 day simple moving average is $256.96. Flutter Entertainment has a 1-year low of $175.59 and a 1-year high of $309.77. The firm has a market capitalization of $53.86 billion and a price-to-earnings ratio of 105.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 EPS 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 firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the previous year, the business posted $0.10 EPS. Flutter Entertainment's revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Holly K. Koeppel sold 267 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.36, for a total transaction of $65,511.12. Following the transaction, the director owned 2,556 shares in the company, valued at approximately $627,140.16. This trade represents a 9.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alfred F. Hurley, Jr. sold 265 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $243.94, for a total transaction of $64,644.10. Following the transaction, the director owned 3,518 shares in the company, valued at $858,180.92. This represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,770 shares of company stock worth $1,894,934 in the last quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Flutter Entertainment by 12.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 1,325 shares of the company's stock valued at $379,000 after purchasing an additional 150 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Flutter Entertainment by 70.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,125 shares of the company's stock valued at $893,000 after purchasing an additional 1,289 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of Flutter Entertainment by 54.7% during the 2nd quarter. Yousif Capital Management LLC now owns 5,611 shares of the company's stock valued at $1,603,000 after purchasing an additional 1,983 shares in the last quarter. CWM LLC grew its stake in Flutter Entertainment by 719.4% in the 2nd quarter. CWM LLC now owns 1,778 shares of the company's stock valued at $508,000 after buying an additional 1,561 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in Flutter Entertainment by 5.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,930 shares of the company's stock valued at $3,425,000 after buying an additional 633 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.