Flutter Entertainment (NYSE:FLUT) Price Target Raised to $353.00

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its price target lifted by investment analysts at Stifel Nicolaus from $315.00 to $353.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' target price suggests a potential upside of 19.05% from the company's current price.

Several other research firms also recently commented on FLUT. Sanford C. Bernstein began coverage on shares of Flutter Entertainment in a report on Wednesday, June 4th. They set a "market perform" rating and a $275.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Flutter Entertainment in a report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target on the stock. Barclays lowered their price target on shares of Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Canaccord Genuity Group started coverage on shares of Flutter Entertainment in a report on Wednesday, June 25th. They issued a "buy" rating and a $330.00 price target on the stock. Finally, Macquarie reissued an "outperform" rating and issued a $340.00 price target (up from $330.00) on shares of Flutter Entertainment in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Flutter Entertainment has an average rating of "Moderate Buy" and a consensus price target of $315.81.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT traded up $3.10 during midday trading on Wednesday, reaching $296.51. The company had a trading volume of 1,850,835 shares, compared to its average volume of 2,103,481. The company's 50 day moving average price is $262.30 and its 200 day moving average price is $254.75. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The stock has a market cap of $52.39 billion and a P/E ratio of 102.60. Flutter Entertainment has a 52-week low of $175.59 and a 52-week high of $299.73.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.30). The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a net margin of 4.17% and a return on equity of 11.76%. Flutter Entertainment's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Insider Buying and Selling at Flutter Entertainment

In other news, COO James Philip Bishop sold 3,000 shares of the stock in a transaction that occurred 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 owned 4,712 shares of the company's stock, valued at approximately $1,145,958.40. This represents a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 2,315 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 73,947 shares in the company, valued at $18,006,094.50. This represents a 3.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,770 shares of company stock valued at $1,894,934.

Institutional Inflows and Outflows

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