Flutter Entertainment (NYSE:FLUT) Shares Down 5.9% - Should You Sell?

Key Points

• Flutter Entertainment's shares fell by 5.9%, trading between $266.43 and $269.46, with a substantial drop in trading volume compared to the average.
• Analysts have generally rated Flutter Entertainment positively, with a consensus rating of "Moderate Buy" and a price target of $335.74, indicating potential upside despite recent stock declines.
• The company reported strong quarterly earnings, with a revenue increase of 16.0% year-over-year, significantly surpassing analyst expectations.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) shares dropped 5.9% during trading on Tuesday . The stock traded as low as $269.46 and last traded at $266.43. Approximately 308,404 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,202,685 shares. The stock had previously closed at $283.26.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Kepler Capital Markets upgraded shares of Flutter Entertainment to a "strong-buy" rating in a report on Thursday, August 28th. Zacks Research upgraded shares of Flutter Entertainment from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Barclays boosted their price target on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Bank of America boosted their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Flutter Entertainment in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Flutter Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $335.74.

Flutter Entertainment Stock Down 10.0%

The business has a fifty day moving average of $294.24 and a 200 day moving average of $266.31. The firm has a market cap of $44.91 billion, a P/E ratio of 125.63 and a beta of 2.29. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. The company's quarterly revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has approved a stock buyback plan on Friday, August 8th that permits the company to repurchase $245.00 million in shares. This repurchase authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Insider Activity

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the completion of the sale, the chief executive officer owned 31,944 shares of the company's stock, valued at approximately $9,341,064.48. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amy Howe sold 4,097 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the sale, the chief executive officer directly owned 69,850 shares of the company's stock, valued at $21,367,813.50. This represents a 5.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,396 shares of company stock worth $6,759,745 over the last three months. Company insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently made changes to their positions in FLUT. GPS Wealth Strategies Group LLC increased its position in shares of Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after acquiring an additional 110 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Flutter Entertainment during the first quarter worth $27,000. ORG Partners LLC increased its position in shares of Flutter Entertainment by 300.0% during the second quarter. ORG Partners LLC now owns 100 shares of the company's stock worth $28,000 after acquiring an additional 75 shares in the last quarter. Barrett & Company Inc. bought a new stake in shares of Flutter Entertainment during the second quarter worth $29,000. Finally, Parallel Advisors LLC increased its position in shares of Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock worth $30,000 after acquiring an additional 60 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.

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