Flutter Entertainment's (FLUT) "Buy" Rating Reiterated at Benchmark

Key Points

• Benchmark analysts reiterated their "buy" rating for Flutter Entertainment, setting a price target of $365.00, suggesting a potential upside of 44.26% from the current stock price.
• In addition to Benchmark, various analysts have recently issued ratings ranging from "add" to "overweight," with an average stock rating of "Moderate Buy" and a target price of $335.47.
• Flutter Entertainment has initiated a stock repurchase plan to buy back up to $245 million in shares, indicating management's belief that the stock may be undervalued.

Flutter Entertainment (NYSE:FLUT - Get Free Report)'s stock had its "buy" rating restated by research analysts at Benchmark in a research note issued on Wednesday,Benzinga reports. They presently have a $365.00 price target on the stock. Benchmark's price target would suggest a potential upside of 44.26% from the stock's previous close.

FLUT has been the topic of several other reports. Peel Hunt downgraded shares of Flutter Entertainment from an "add" rating to a "hold" rating in a report on Friday, August 8th. Jefferies Financial Group initiated coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They set a "buy" rating and a $380.00 target price on the stock. Hsbc Global Res upgraded Flutter Entertainment to a "hold" rating in a report on Wednesday, June 18th. Oppenheimer boosted their price objective on Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Barclays upped their price objective on Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $335.47.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $253.01 on Wednesday. The firm has a market capitalization of $44.56 billion, a price-to-earnings ratio of 124.64 and a beta of 2.29. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $293.27 and a 200-day simple moving average of $266.22. Flutter Entertainment has a 1 year low of $196.88 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.Flutter Entertainment's quarterly revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities analysts forecast that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a stock repurchase plan on Friday, August 8th that authorizes the company to buyback $245.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Daniel Mark Taylor sold 15,283 shares of the business'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 completion of the transaction, the insider directly owned 16,589 shares of the company's stock, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James Philip Bishop sold 1,904 shares of Flutter Entertainment stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the transaction, the insider owned 4,712 shares in the company, valued at $1,327,087.68. This trade represents a 28.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,396 shares of company stock valued at $6,759,745. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Flutter Entertainment by 22,057.1% during the 1st quarter. GAMMA Investing LLC now owns 3,102 shares of the company's stock valued at $687,000 after purchasing an additional 3,088 shares during the last quarter. Parallel Advisors LLC raised its stake in Flutter Entertainment by 78.9% in the first quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after buying an additional 60 shares during the last quarter. Rhumbline Advisers boosted its holdings in Flutter Entertainment by 5.4% in the first quarter. Rhumbline Advisers now owns 23,806 shares of the company's stock worth $5,274,000 after acquiring an additional 1,216 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in shares of Flutter Entertainment by 43.8% during the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company's stock worth $41,000 after acquiring an additional 56 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC grew its stake in shares of Flutter Entertainment by 20.6% during the first quarter. Arthur M. Cohen & Associates LLC now owns 1,845 shares of the company's stock worth $409,000 after acquiring an additional 315 shares during 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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