Sanford C. Bernstein Begins Coverage on Flutter Entertainment (NYSE:FLUT)

Analysts at Sanford C. Bernstein assumed coverage on shares of Flutter Entertainment (NYSE:FLUT - Get Free Report) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a "market perform" rating and a $275.00 price target on the stock. Sanford C. Bernstein's price objective would indicate a potential upside of 13.32% from the stock's current price.

Other equities analysts also recently issued reports about the company. BTIG Research dropped their price target on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Citizens Jmp cut their target price on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Susquehanna decreased their target price on Flutter Entertainment from $317.00 to $315.00 and set a "positive" rating on the stock in a research report on Wednesday, March 5th. Macquarie restated an "outperform" rating and set a $340.00 price target (up previously from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Finally, Barclays cut their target price on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $303.79.

Flutter Entertainment Trading Down 0.6%

Shares of FLUT traded down $1.41 during trading hours on Wednesday, reaching $242.67. 1,327,025 shares of the company traded hands, compared to its average volume of 1,873,185. Flutter Entertainment has a 12 month low of $174.03 and a 12 month high of $299.73. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The company's fifty day moving average price is $235.93 and its two-hundred day moving average price is $254.12. The company has a market capitalization of $42.88 billion and a price-to-earnings ratio of 83.97.

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

Insider Transactions at Flutter Entertainment

In related news, COO James Philip Bishop sold 3,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.20, for a total transaction of $729,600.00. Following the completion of the sale, the chief operating officer now directly owns 4,712 shares of the company's stock, valued at $1,145,958.40. This trade represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amy Howe sold 2,315 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.50, for a total transaction of $563,702.50. Following the completion of the sale, the chief executive officer now owns 73,947 shares of the company's stock, valued at $18,006,094.50. This trade represents a 3.04% decrease in their position. The disclosure for this sale can be found here.

Hedge Funds Weigh In On Flutter Entertainment

A number of large investors have recently made changes to their positions in the stock. Parvus Asset Management Europe Ltd acquired a new position in Flutter Entertainment during the fourth quarter worth $2,146,227,000. Norges Bank acquired a new position in shares of Flutter Entertainment during the 4th quarter worth $946,681,000. Invesco Ltd. purchased a new stake in shares of Flutter Entertainment in the 4th quarter worth about $621,680,000. Lone Pine Capital LLC purchased a new stake in shares of Flutter Entertainment in the 4th quarter worth about $494,291,000. Finally, Capital World Investors grew its stake in Flutter Entertainment by 11.9% in the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company's stock valued at $3,986,968,000 after acquiring an additional 1,635,241 shares during the last quarter.

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.