Flutter Entertainment (NYSE:FLUT) Hits New 1-Year High After Analyst Upgrade

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $315.00 to $353.00. Stifel Nicolaus currently has a buy rating on the stock. Flutter Entertainment traded as high as $303.49 and last traded at $302.71, with a volume of 1036400 shares trading hands. The stock had previously closed at $296.26.

FLUT has been the subject of a number of other reports. JMP Securities lifted their price objective on Flutter Entertainment from $301.00 to $323.00 and gave the company a "market outperform" rating in a research note on Tuesday. Jefferies Financial Group started coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 target price for the company. Needham & Company LLC reissued a "buy" rating and set a $310.00 price target on shares of Flutter Entertainment in a research report on Tuesday, June 10th. Bank of America raised their price objective on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Hsbc Global Res raised shares of Flutter Entertainment to a "hold" rating in a research note on Wednesday, June 18th. Two investment 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 company's stock. Based on data from MarketBeat, Flutter Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $318.52.

Insider Buying and Selling

In related news, Director Christine M. Mccarthy sold 264 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $244.12, for a total transaction of $64,447.68. Following the completion of the sale, the director owned 559 shares in the company, valued at $136,463.08. The trade was a 32.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Holly K. Koeppel sold 267 shares of the company'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 completion of the transaction, the director owned 2,556 shares of the company's stock, valued at approximately $627,140.16. The trade was a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock valued at $1,894,934 over the last 90 days.

Institutional Investors Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at approximately $25,000. Farther Finance Advisors LLC raised its position in Flutter Entertainment by 585.7% during the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company's stock worth $25,000 after buying an additional 82 shares during the last quarter. GPS Wealth Strategies Group LLC lifted its position 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 period. SVB Wealth LLC acquired a new position in Flutter Entertainment during the 1st quarter worth approximately $27,000. Finally, ORG Partners LLC increased its position in Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company's stock worth $28,000 after purchasing an additional 75 shares during the period.

Flutter Entertainment Trading Up 0.7%

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 50 day moving average price of $266.11 and a 200-day moving average price of $255.69. The firm has a market capitalization of $54.23 billion and a PE ratio of 47.42.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data 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 business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The company's revenue was up 7.9% compared to the same quarter last year. Analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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.