Flutter Entertainment PLC (NYSE:FLUT) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Flutter Entertainment PLC has received a consensus recommendation of "Moderate Buy" from analysts, with an average target price of $336.26 for the next 12 months.
• Insiders sold a total of 23,396 shares worth approximately $6.76 million in recent transactions, indicating a potential shift in confidence among company executives.
• The company reported a significant earnings beat in its latest quarterly results, with earnings per share of $2.95, exceeding analyst estimates by $0.87.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-five research firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $336.2632.

A number of analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Flutter Entertainment from $330.00 to $340.00 and gave the company a "buy" rating in a report on Friday, August 8th. UBS Group reiterated a "buy" rating and issued a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Oppenheimer lowered their price target on Flutter Entertainment from $350.00 to $330.00 and set an "outperform" rating for the company in a report on Tuesday. Macquarie upped their target price on Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, Bank of America upped their target price on Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a report on Friday, July 11th.

Insider Buying and Selling

In other Flutter Entertainment news, insider James Philip Bishop sold 1,904 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares in the company, valued at $1,327,087.68. This represents a 28.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel Mark Taylor sold 15,283 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $284.80, for a total value of $4,352,598.40. Following the sale, the insider owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. This represents a 47.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock worth $6,759,745 in the last three months. Corporate insiders own 0.09% of the company's stock.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in FLUT. Farther Finance Advisors LLC lifted its holdings in shares of Flutter Entertainment by 90.6% during the 1st quarter. Farther Finance Advisors LLC now owns 183 shares of the company's stock valued at $41,000 after purchasing an additional 87 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Flutter Entertainment during the 1st quarter valued at $376,000. Deltec Asset Management LLC purchased a new stake in shares of Flutter Entertainment during the 1st quarter valued at $443,000. Canton Hathaway LLC lifted its holdings in shares of Flutter Entertainment by 360.3% during the 1st quarter. Canton Hathaway LLC now owns 6,490 shares of the company's stock valued at $1,438,000 after purchasing an additional 5,080 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Flutter Entertainment by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after purchasing an additional 67 shares during the last quarter.

Flutter Entertainment Stock Up 0.8%

Shares of NYSE FLUT opened at $251.97 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $44.37 billion, a price-to-earnings ratio of 124.12 and a beta of 1.91. The stock has a 50 day moving average price of $279.33 and a 200 day moving average price of $267.43. Flutter Entertainment has a 52-week low of $196.88 and a 52-week high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly 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 analyst estimates of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company's revenue was up 16.0% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. Sell-side analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has authorized a share repurchase program on Friday, August 8th that authorizes the company to buyback $245.00 million in shares. This buyback authorization authorizes the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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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