Flutter Entertainment (NYSE:FLUT) Stock Price Down 10.1% - Here's What Happened

Key Points

• Flutter Entertainment's stock plunged 10.1% on Friday to about $127.05 (low $128.57) on volume of ~2.04 million shares, roughly 43% below its average session volume.
• Several analysts have recently cut price targets (e.g., BofA $210, Wells $228, UBS $300, Morgan Stanley $315), yet the consensus rating remains a Moderate Buy with an average target of $272.48.
• Operationally, Flutter beat the last quarter with $1.64 EPS and $3.79B revenue, but the stock shows a negative P/E (-95.04), market cap of ~$21.7B, and 50-/200-day moving averages ($195.77 / $237.55) far above the current price.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report)'s stock price traded down 10.1% during trading on Friday . The company traded as low as $128.57 and last traded at $127.0470. 2,041,205 shares changed hands during trading, a decline of 43% from the average session volume of 3,589,366 shares. The stock had previously closed at $141.37.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of recent research reports. Bank of America dropped their price objective on Flutter Entertainment from $250.00 to $210.00 and set a "neutral" rating for the company in a research report on Thursday, January 22nd. Wells Fargo & Company reissued an "equal weight" rating and set a $228.00 price target (down previously from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. UBS Group lowered their price objective on Flutter Entertainment from $320.00 to $300.00 and set a "buy" rating for the company in a research report on Tuesday. Morgan Stanley dropped their target price on Flutter Entertainment from $352.00 to $315.00 and set an "overweight" rating for the company in a research note on Friday, December 12th. Finally, Truist Financial set a $260.00 price objective on shares of Flutter Entertainment in a research note on Tuesday, January 13th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $272.48.

Flutter Entertainment Stock Performance

The stock's 50-day moving average is $195.77 and its 200-day moving average is $237.55. The stock has a market cap of $21.73 billion, a price-to-earnings ratio of -95.04 and a beta of 1.88. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $1.25. Flutter Entertainment had a negative net margin of 0.95% and a positive return on equity of 14.42%. The firm had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same period in the previous year, the company posted $1.27 earnings per share. Flutter Entertainment's revenue was up 16.8% compared to the same quarter last year. On average, analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Institutional Trading of Flutter Entertainment

Institutional investors have recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC purchased a new stake in shares of Flutter Entertainment in the third quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its position in Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company's stock worth $25,000 after acquiring an additional 79 shares in the last quarter. JCIC Asset Management Inc. purchased a new position in Flutter Entertainment in the 3rd quarter worth approximately $32,000. Zions Bancorporation National Association UT grew its position in Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company's stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Flutter Entertainment during the third quarter valued at approximately $34,000.

Flutter Entertainment Company Profile

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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