Flutter Entertainment PLC (NYSE:FLUT) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Flutter Entertainment, with 16 buy, two strong-buy, eight hold and three sell ratings among 29 analysts. The average 12-month price target is $159.13, although several firms recently lowered their targets.
• Flutter shares opened at $101.43 after rising 3.2%, but remain well below their 52-week high of $309.41. The company reported quarterly revenue of $4.33 billion, ahead of estimates, while EPS of $0.49 fell short of the $0.54 consensus.
• Insiders sold 1,522 shares worth approximately $144,000 during the last quarter, while institutional ownership activity included several small purchases and stake increases. Insiders own 0.13% of the company.

Shares of Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-nine analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, sixteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $159.1250.

Several research firms have recently issued reports on FLUT. Stifel Nicolaus cut their price objective on shares of Flutter Entertainment from $161.00 to $133.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Citizens Jmp reduced their target price on shares of Flutter Entertainment from $165.00 to $159.00 and set a "market outperform" rating for the company in a research note on Wednesday, July 8th. BTIG Research decreased their target price on Flutter Entertainment from $120.00 to $113.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Citigroup restated an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, July 8th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $180.00 price target on shares of Flutter Entertainment in a report on Sunday, August 9th.

Insider Activity

In other news, Director Carolan Lennon sold 439 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total transaction of $41,542.57. Following the sale, the director directly owned 1,688 shares in the company, valued at approximately $159,735.44. The trade was a 20.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,522 shares of company stock worth $144,027 in the last quarter. Insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors have recently bought and sold shares of the business. Zions Bancorporation National Association UT raised its stake in shares of Flutter Entertainment by 1,685.7% in the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company's stock valued at $27,000 after buying an additional 118 shares in the last quarter. EFG International AG bought a new position in shares of Flutter Entertainment during the 4th quarter worth about $36,000. IFP Advisors Inc boosted its position in shares of Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company's stock valued at $40,000 after acquiring an additional 90 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Flutter Entertainment by 83.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company's stock valued at $42,000 after acquiring an additional 75 shares in the last quarter. Finally, LM Advisors LLC bought a new stake in Flutter Entertainment in the fourth quarter valued at about $46,000.

Flutter Entertainment Trading Up 3.2%

Shares of FLUT stock opened at $101.43 on Friday. Flutter Entertainment has a 1 year low of $89.71 and a 1 year high of $309.41. The firm's fifty day simple moving average is $104.17 and its 200 day simple moving average is $110.59. The firm has a market capitalization of $17.60 billion, a P/E ratio of -23.59, a price-to-earnings-growth ratio of 1.84 and a beta of 1.28. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.49 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 analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. Flutter Entertainment's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.95 earnings per share. As a group, sell-side analysts predict that Flutter Entertainment will post 4.72 EPS for the current year.

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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