Kepler Capital Markets Upgrades Flutter Entertainment (NYSE:FLUT) to "Strong-Buy"

Key Points

• Kepler Capital Markets has upgraded Flutter Entertainment to a "strong-buy" rating, reflecting increased confidence in the company's market performance.
• Oppenheimer and other analysts have raised their target prices for Flutter Entertainment, with a consensus target price of $332.70.
• The company announced a $245 million share buyback plan, indicating management's belief that the stock is undervalued.

Flutter Entertainment (NYSE:FLUT - Get Free Report) was upgraded by investment analysts at Kepler Capital Markets to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Stifel Nicolaus increased their target price on shares of Flutter Entertainment from $353.00 to $356.00 and gave the company a "buy" rating in a research note on Friday, August 8th. JMP Securities increased their target price on shares of Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a research note on Friday, August 8th. Hsbc Global Res upgraded shares of Flutter Entertainment to a "hold" rating in a research report on Wednesday, June 18th. Finally, Benchmark restated a "buy" rating and issued a $365.00 price target (up previously from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Flutter Entertainment has a consensus rating of "Moderate Buy" and an average target price of $332.70.

Flutter Entertainment Stock Down 1.3%

FLUT stock traded down $3.84 during mid-day trading on Thursday, hitting $295.16. 1,476,365 shares of the company were exchanged, compared to its average volume of 2,276,254. The company has a market capitalization of $51.98 billion, a PE ratio of 145.40, a price-to-earnings-growth ratio of 1.49 and a beta of 2.29. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment has a twelve month low of $196.88 and a twelve month high of $313.68. The firm has a fifty day simple moving average of $294.93 and a 200 day simple moving average of $263.42.

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

Flutter Entertainment announced that its Board of Directors has authorized a share repurchase plan on Friday, August 8th that authorizes the company to repurchase $245.00 million in shares. This repurchase authorization authorizes the company to purchase up to 0.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the transaction, the chief executive officer directly owned 31,944 shares of the company's stock, valued at approximately $9,341,064.48. This trade represents a 6.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the transaction, the insider directly owned 4,712 shares of the company's stock, valued at $1,327,087.68. The trade was a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,925 shares of company stock worth $6,888,837. 0.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors have recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC lifted its holdings in Flutter Entertainment by 121.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 3,726 shares of the company's stock valued at $1,065,000 after purchasing an additional 2,044 shares during the last quarter. State of Wyoming increased its position in Flutter Entertainment by 549.9% in the 2nd quarter. State of Wyoming now owns 4,322 shares of the company's stock valued at $1,235,000 after acquiring an additional 3,657 shares in the last quarter. Hohimer Wealth Management LLC grew its position in shares of Flutter Entertainment by 1.3% during the 2nd quarter. Hohimer Wealth Management LLC now owns 4,567 shares of the company's stock worth $1,305,000 after buying an additional 60 shares during the period. Hudson Bay Capital Management LP grew its position in shares of Flutter Entertainment by 503.6% during the 2nd quarter. Hudson Bay Capital Management LP now owns 371,883 shares of the company's stock worth $106,269,000 after buying an additional 310,276 shares during the period. Finally, Duquesne Family Office LLC grew its position in shares of Flutter Entertainment by 7.4% during the 2nd quarter. Duquesne Family Office LLC now owns 405,320 shares of the company's stock worth $115,771,000 after buying an additional 27,845 shares during the period.

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.