Flutter Entertainment plc (NYSE:FLUT) Receives Average Recommendation of "Buy" from Brokerages

Flutter Entertainment plc (NYSE:FLUT - Get Free Report) has received a consensus recommendation of "Buy" from the twenty-one analysts that are covering the stock, Marketbeat reports. Twenty research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $306.28.

Several equities research analysts have recently weighed in on the stock. Citizens Jmp dropped 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. UBS Group boosted their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Truist Financial lowered their price objective on shares of Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Barclays dropped their price objective on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Benchmark reiterated a "buy" rating and set a $300.00 price objective on shares of Flutter Entertainment in a research note on Monday, April 21st.

Insider Transactions at Flutter Entertainment

In related news, COO James Philip Bishop sold 3,000 shares of Flutter Entertainment stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $243.20, for a total transaction of $729,600.00. Following the completion of the transaction, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at $1,145,958.40. This trade represents a 38.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeremy Peter Jackson sold 25,027 shares of Flutter Entertainment stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the transaction, the director now directly owns 21,148 shares of the company's stock, valued at $5,539,930.08. This represents a 54.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,156 shares of company stock worth $10,926,922.

Institutional Trading of Flutter Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC bought a new position in shares of Flutter Entertainment in the 4th quarter worth $239,306,000. DJE Kapital AG bought a new position in shares of Flutter Entertainment in the 4th quarter worth $442,000. Bank of New York Mellon Corp boosted its position in shares of Flutter Entertainment by 68.3% in the 4th quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company's stock worth $51,642,000 after purchasing an additional 81,101 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Flutter Entertainment by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company's stock worth $170,913,000 after purchasing an additional 38,800 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its position in shares of Flutter Entertainment by 244.4% in the 4th quarter. Plato Investment Management Ltd now owns 3,265 shares of the company's stock worth $847,000 after purchasing an additional 2,317 shares during the last quarter.

Flutter Entertainment Price Performance

FLUT opened at $240.27 on Thursday. The company has a 50-day moving average of $234.62 and a 200-day moving average of $254.30. The company has a market capitalization of $42.45 billion and a P/E ratio of 83.14. Flutter Entertainment has a 1-year low of $174.03 and a 1-year high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results 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 company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative return on equity of 4.52% and a negative net margin of 6.86%. Flutter Entertainment's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. Equities analysts expect that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

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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