Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) shares rose 6.1% during trading on Tuesday . The company traded as high as $98.99 and last traded at $100.0340. 658,509 shares changed hands during trading, a decline of 81% from the average daily volume of 3,441,726 shares. The stock had previously closed at $94.27.
Analysts Set New Price Targets
A number of brokerages have issued reports on FLUT. Wall Street Zen downgraded Flutter Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th. Weiss Ratings reiterated a "sell (d)" rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. Needham & Company LLC reduced their target price on shares of Flutter Entertainment from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Finally, Oppenheimer decreased their price target on shares of Flutter Entertainment from $210.00 to $160.00 and set an "outperform" rating for the company in a research note on Monday, April 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $161.09.
Get Our Latest Analysis on FLUT
Flutter Entertainment Stock Performance
The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average price of $104.33 and a 200 day moving average price of $112.36. The stock has a market cap of $17.27 billion, a PE ratio of -23.07, a P/E/G ratio of 1.77 and a beta of 1.28.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.Flutter Entertainment's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.95 earnings per share. Analysts expect that Flutter Entertainment PLC will post 4.72 earnings per share for the current year.
Insider Activity at Flutter Entertainment
In related news, Director Carolan Lennon sold 439 shares of Flutter Entertainment stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $94.63, for a total value of $41,542.57. Following the transaction, the director directly owned 1,688 shares of the company's stock, valued at $159,735.44. The trade was a 20.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu sold 1,259 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total transaction of $117,552.83. Following the sale, the insider directly owned 21,006 shares of the company's stock, valued at $1,961,330.22. The trade was a 5.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 2,781 shares of company stock worth $261,580 in the last 90 days. Company insiders own 0.13% of the company's stock.
Institutional Trading of Flutter Entertainment
Large investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $694,009,000. Peregrine Capital Management LLC raised its holdings in Flutter Entertainment by 34.2% in the 4th quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company's stock worth $32,467,000 after purchasing an additional 38,469 shares in the last quarter. Capricorn Fund Managers Ltd bought a new position in Flutter Entertainment in the 1st quarter worth $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Flutter Entertainment by 53.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company's stock worth $6,530,000 after purchasing an additional 22,270 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in shares of Flutter Entertainment by 5.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company's stock valued at $85,818,000 after purchasing an additional 20,203 shares in the last quarter.
About Flutter Entertainment
(
Get Free Report)
Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company's primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.
Flutter's brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.
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