Flutter Entertainment (NYSE:FLUT) Sees Large Volume Increase - Time to Buy?

Key Points

• Analysts remain broadly bullish: Flutter Entertainment has a “Moderate Buy” consensus rating and an average price target of $159.12, well above its recent trading price near $102, though several firms recently lowered their targets.
• The company’s latest quarter showed mixed results: revenue rose 3.3% year over year to $4.33 billion, exceeding estimates, while earnings per share came in at $0.49, below the $0.54 consensus.
• Trading volume increased substantially compared with typical activity, while institutional investors—including Norges Bank and Arrowstreet Capital—built positions. CEO Jeremy Jackson sold shares to cover tax obligations, and insiders own 0.13% of the company.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) shares saw an uptick in trading volume on Monday . 2,181,553 shares were traded during mid-day trading, a decline of 35% from the previous session's volume of 3,346,714 shares.The stock last traded at $101.9760 and had previously closed at $101.78.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FLUT shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $180.00 price target on shares of Flutter Entertainment in a report on Sunday, August 9th. Deutsche Bank Aktiengesellschaft set a $148.00 price objective on Flutter Entertainment in a research report on Thursday, August 6th. UBS Group reduced their target price on Flutter Entertainment from $160.00 to $140.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. Truist Financial decreased their target price on Flutter Entertainment from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Finally, Citigroup reissued an "outperform" rating on shares of Flutter Entertainment in a research note on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment currently has an average rating of "Moderate Buy" and a consensus price target of $159.12.

Flutter Entertainment Trading Up 0.3%

The company has a fifty day moving average of $102.50 and a 200-day moving average of $105.89. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $17.71 billion, a price-to-earnings ratio of -23.73, a PEG ratio of 2.58 and a beta of 1.28.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.05). The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. Flutter Entertainment's revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.95 EPS. As a group, equities research analysts anticipate that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total value of $197,091.84. Following the transaction, the chief executive officer owned 72,214 shares in the company, valued at approximately $6,739,010.48. This trade represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.13% of the company's stock.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Flutter Entertainment during the fourth quarter worth about $694,009,000. Capricorn Fund Managers Ltd acquired a new stake in shares of Flutter Entertainment during the first quarter valued at about $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Flutter Entertainment by 53.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company's stock valued at $6,530,000 after acquiring an additional 22,270 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Flutter Entertainment by 286.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 52,805 shares of the company's stock valued at $5,383,000 after acquiring an additional 39,133 shares during the period. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of Flutter Entertainment by 5.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company's stock worth $85,818,000 after acquiring an additional 20,203 shares during the last quarter.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company's primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter's brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.

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