Flutter Entertainment PLC (NYSE:FLUT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Flutter Entertainment has received a consensus rating of "Moderate Buy" from 25 analysts, with an average 1-year target price of $322.10.
• Recently, several brokerage firms, including Stifel Nicolaus and Jefferies, have increased their target prices for Flutter Entertainment, with Jefferies setting a target of $380.00.
• Insider trading has seen significant activity, with directors selling a total of 7,770 shares valued at nearly $1.9 million in the last quarter, indicating potential shifts in insider confidence.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-five analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $322.0952.

FLUT has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on Flutter Entertainment from $315.00 to $353.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Jefferies Financial Group initiated coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target on the stock. Barclays reaffirmed an "overweight" rating and set a $350.00 price target (up previously from $293.00) on shares of Flutter Entertainment in a research report on Friday, July 18th. Bank of America boosted their price objective on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Citizens Jmp dropped their price objective on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th.

Insider Buying and Selling

In related news, Director Carolan Lennon sold 430 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $105,655.30. Following the sale, the director owned 769 shares of the company's stock, valued at $188,950.99. This represents a 35.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alfred F. Hurley, Jr. sold 265 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $243.94, for a total value of $64,644.10. Following the completion of the transaction, the director owned 3,518 shares in the company, valued at $858,180.92. The trade was a 7.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,770 shares of company stock valued at $1,894,934 in the last quarter.

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors have recently modified their holdings of FLUT. American Century Companies Inc. acquired a new stake in shares of Flutter Entertainment in the 4th quarter valued at approximately $303,000. O Shaughnessy Asset Management LLC boosted its position in Flutter Entertainment by 22.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,999 shares of the company's stock valued at $1,292,000 after buying an additional 932 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Flutter Entertainment by 4.9% during the fourth quarter. Franklin Resources Inc. now owns 49,316 shares of the company's stock worth $12,786,000 after buying an additional 2,304 shares during the last quarter. Huntington National Bank grew its stake in shares of Flutter Entertainment by 2,885.7% during the fourth quarter. Huntington National Bank now owns 209 shares of the company's stock worth $54,000 after buying an additional 202 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Flutter Entertainment by 181.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 68,023 shares of the company's stock worth $17,581,000 after buying an additional 43,829 shares in the last quarter.

Flutter Entertainment Stock Up 1.4%

NYSE:FLUT opened at $303.69 on Tuesday. The stock has a market cap of $53.66 billion, a price-to-earnings ratio of 105.08, a PEG ratio of 1.11 and a beta of 2.31. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $277.77 and a two-hundred day moving average price of $258.98. Flutter Entertainment has a 1 year low of $175.59 and a 1 year high of $309.77.

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 (EPS) 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 analyst estimates 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 quarter in the prior year, the firm posted $0.10 earnings per share. As a group, equities analysts expect that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment Company Profile

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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