Flutter Entertainment (NYSE:FLUT) Given "Market Outperform" Rating at JMP Securities

Flutter Entertainment (NYSE:FLUT - Get Free Report)'s stock had its "market outperform" rating reaffirmed by investment analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $301.00 target price on the stock. JMP Securities' price target points to a potential upside of 10.60% from the company's current price.

Other research analysts have also issued research reports about the company. Benchmark reissued a "buy" rating and issued a $300.00 target price on shares of Flutter Entertainment in a research report on Monday, April 21st. UBS Group increased their target price on 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 decreased their target price on Flutter Entertainment from $330.00 to $280.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Citizens Jmp decreased their target price on Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Stifel Nicolaus decreased their target price 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. One research analyst has rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of "Buy" and a consensus price target of $303.79.

Flutter Entertainment Trading Up 1.0%

FLUT traded up $2.80 during midday trading on Thursday, reaching $272.16. 1,670,283 shares of the company's stock traded hands, compared to its average volume of 1,886,931. The firm has a fifty day moving average of $239.87 and a two-hundred day moving average of $253.82. The stock has a market capitalization of $48.09 billion and a price-to-earnings ratio of 94.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment has a 52 week low of $174.03 and a 52 week high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing analysts' consensus estimates of $1.89 by ($0.30). The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. On average, equities analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Insider Transactions at Flutter Entertainment

In other news, 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 transaction, the director now directly owns 3,518 shares in the company, valued at $858,180.92. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Nancy Cruickshank sold 281 shares of Flutter Entertainment stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $69,044.51. Following the transaction, the director now owns 1,797 shares in the company, valued at $441,540.87. This trade represents a 13.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,770 shares of company stock worth $1,894,934 in the last ninety days.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors lifted its position in Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after purchasing an additional 1,635,241 shares in the last quarter. Vanguard Group Inc. lifted its position in Flutter Entertainment by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company's stock valued at $2,479,812,000 after purchasing an additional 299,300 shares in the last quarter. Parvus Asset Management Europe Ltd purchased a new position in Flutter Entertainment during the fourth quarter valued at $2,146,227,000. Norges Bank purchased a new position in Flutter Entertainment during the fourth quarter valued at $946,681,000. Finally, FMR LLC lifted its position in Flutter Entertainment by 0.8% during the fourth quarter. FMR LLC now owns 3,401,092 shares of the company's stock valued at $881,349,000 after purchasing an additional 25,422 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.