Flutter Entertainment (NYSE:FLUT) Shares Down 8.5% - Time to Sell?

Key Points

• Flutter Entertainment's shares experienced a significant drop of 8.5%, trading as low as $279.03, after closing the previous day at $306.07.
• Despite the recent decline, analysts remain optimistic, with a consensus rating of "Moderate Buy" and a target price of approximately $328.14 based on multiple brokerages' reports.
• The company reported a 16% year-over-year revenue growth for the last quarter, surpassing analyst expectations with a revenue of $4.19 billion and earnings per share of $2.95.

Shares of Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) fell 8.5% on Friday . The company traded as low as $279.03 and last traded at $280.14. 2,120,004 shares were traded during trading, a decline of 9% from the average session volume of 2,317,446 shares. The stock had previously closed at $306.07.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FLUT. Canaccord Genuity Group began coverage on Flutter Entertainment in a research report on Wednesday, June 25th. They issued a "buy" rating and a $330.00 price objective for the company. Sanford C. Bernstein reiterated a "market perform" rating on shares of Flutter Entertainment in a research report on Friday. Barclays raised their price objective on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research report on Friday. JMP Securities upped their price objective on Flutter Entertainment from $323.00 to $345.00 and gave the stock a "market outperform" rating in a report on Friday. Finally, Jefferies Financial Group assumed coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $328.14.

Flutter Entertainment Stock Down 7.5%

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 firm's fifty day moving average price is $282.57 and its 200-day moving average price is $260.22. The company has a market cap of $50.03 billion, a price-to-earnings ratio of 98.00, a price-to-earnings-growth ratio of 1.13 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.08 by $0.87. The firm had revenue of $4.19 billion during the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The firm's revenue was up 16.0% on a year-over-year basis. Sell-side analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Insider Buying and Selling at Flutter Entertainment

In related news, Director Holly K. Koeppel sold 267 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.36, for a total value of $65,511.12. Following the sale, the director directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christine M. Mccarthy sold 264 shares of Flutter Entertainment stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the sale, the director directly owned 559 shares in the company, valued at $136,463.08. This represents a 32.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,455 shares of company stock valued at $601,632 over the last quarter.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in FLUT. Parvus Asset Management Europe Ltd bought a new position in Flutter Entertainment during the fourth quarter worth about $2,146,227,000. Lone Pine Capital LLC acquired a new stake in shares of Flutter Entertainment in the fourth quarter valued at approximately $494,291,000. Capital World Investors lifted its position in shares of Flutter Entertainment by 11.9% in 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 last quarter. BNP Paribas Financial Markets boosted its stake in shares of Flutter Entertainment by 196.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company's stock worth $441,916,000 after acquiring an additional 1,322,016 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Flutter Entertainment during the 1st quarter worth approximately $289,627,000.

About Flutter Entertainment

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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