Flutter Entertainment PLC (NYSE:FLUT) Given Consensus Rating of "Moderate Buy" by Brokerages

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-five analysts that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, twenty-two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $308.67.

Several brokerages recently weighed in on FLUT. Stifel Nicolaus lowered their price objective on Flutter Entertainment from $320.00 to $315.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Canaccord Genuity Group started coverage on Flutter Entertainment in a research note on Wednesday, June 25th. They issued a "buy" rating and a $330.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and issued a $310.00 price target on shares of Flutter Entertainment in a research note on Tuesday, June 10th. Jefferies Financial Group started coverage on Flutter Entertainment in a research note on Tuesday. They issued a "buy" rating and a $380.00 price target on the stock. Finally, Truist Financial cut their price target on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd.

Flutter Entertainment Price Performance

FLUT stock opened at $289.71 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $259.59 and a 200-day simple moving average of $254.13. The firm has a market capitalization of $51.19 billion and a PE ratio of 100.24. Flutter Entertainment has a 1 year low of $175.59 and a 1 year high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.30). The business had revenue of $3.67 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 company's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. Equities research analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Insider Activity

In other Flutter Entertainment news, Director Holly K. Koeppel sold 267 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.36, for a total value of $65,511.12. Following the transaction, the director directly owned 2,556 shares of the company's stock, valued at $627,140.16. This represents a 9.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carolan Lennon sold 430 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $105,655.30. Following the completion of the sale, the director owned 769 shares in the company, valued at approximately $188,950.99. This trade represents a 35.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock worth $1,894,934 in the last quarter.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Flutter Entertainment by 326.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock worth $742,000 after acquiring an additional 2,483 shares during the period. Whalen Wealth Management Inc. bought a new position in Flutter Entertainment in the 1st quarter worth about $380,000. Rubicon Global Capital Ltd boosted its holdings in shares of Flutter Entertainment by 56.1% in the first quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock valued at $15,564,000 after acquiring an additional 25,250 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Flutter Entertainment by 0.6% in the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock valued at $88,021,000 after acquiring an additional 2,478 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after acquiring an additional 67 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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