Flutter Entertainment (NYSE:FLUT) Upgraded by Hsbc Global Res to Hold Rating

Flutter Entertainment (NYSE:FLUT - Get Free Report) was upgraded by research analysts at Hsbc Global Res to a "hold" rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on FLUT. Barclays cut their target price on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Citizens Jmp cut their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Sanford C. Bernstein assumed coverage on shares of Flutter Entertainment in a research report on Wednesday, June 4th. They set a "market perform" rating and a $275.00 target price for the company. Wells Fargo & Company increased their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, Susquehanna cut their target price on shares of Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating for the company in a research report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $303.79.

Flutter Entertainment Price Performance

FLUT opened at $263.94 on Wednesday. The firm has a market cap of $46.63 billion and a P/E ratio of 91.33. The firm has a 50-day moving average of $246.14 and a 200 day moving average of $253.48. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment has a fifty-two week low of $175.59 and a fifty-two week high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.30). The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. Flutter Entertainment's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. On average, research analysts expect that Flutter Entertainment will post 4.17 EPS for the current year.

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 2,315 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $243.50, for a total value of $563,702.50. Following the sale, the chief executive officer now directly owns 73,947 shares of the company's stock, valued at $18,006,094.50. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Atif Rafiq sold 265 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $244.18, for a total transaction of $64,707.70. Following the completion of the sale, the director now directly owns 2,474 shares in the company, valued at $604,101.32. This represents a 9.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,770 shares of company stock valued at $1,894,934 over the last three months.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Voya Investment Management LLC raised its stake in shares of Flutter Entertainment by 2.9% during the first quarter. Voya Investment Management LLC now owns 7,224 shares of the company's stock worth $1,581,000 after acquiring an additional 204 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Flutter Entertainment by 5.4% during the first quarter. Rhumbline Advisers now owns 23,806 shares of the company's stock worth $5,274,000 after acquiring an additional 1,216 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Flutter Entertainment during the first quarter worth approximately $241,000. Focus Partners Wealth raised its stake in shares of Flutter Entertainment by 6.2% during the first quarter. Focus Partners Wealth now owns 7,434 shares of the company's stock worth $1,647,000 after acquiring an additional 435 shares in the last quarter. Finally, Plato Investment Management Ltd raised its stake in shares of Flutter Entertainment by 24.9% during the first quarter. Plato Investment Management Ltd now owns 4,078 shares of the company's stock worth $913,000 after acquiring an additional 813 shares in the last quarter.

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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