Stifel Nicolaus Boosts Flutter Entertainment (NYSE:FLUT) Price Target to $353.00

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its target price upped by Stifel Nicolaus from $315.00 to $353.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' target price would suggest a potential upside of 15.01% from the company's previous close.

FLUT has been the subject of a number of other research reports. Jefferies Financial Group started coverage on Flutter Entertainment in a research report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 target price for the company. BTIG Research reduced their price target on Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. JMP Securities raised their price target on Flutter Entertainment from $301.00 to $323.00 and gave the company a "market outperform" rating in a report on Tuesday. Barclays decreased their target price on Flutter Entertainment from $300.00 to $293.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Macquarie reaffirmed an "outperform" rating and set a $340.00 target price (up from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy 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 $318.52.

Flutter Entertainment Stock Up 0.7%

Shares of FLUT stock traded up $2.13 during trading on Wednesday, reaching $306.92. The company's stock had a trading volume of 1,914,576 shares, compared to its average volume of 2,119,378. The business has a fifty day moving average price of $266.11 and a 200-day moving average price of $255.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.67. The company has a market cap of $54.23 billion and a price-to-earnings ratio of 106.20. Flutter Entertainment has a one year low of $175.59 and a one year high of $309.77.

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

Insider Activity

In other news, Director Nancy Cruickshank sold 281 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $69,044.51. Following the completion of the transaction, the director directly owned 1,797 shares of the company's stock, valued at approximately $441,540.87. This represents a 13.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO James Philip Bishop sold 3,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $243.20, for a total value of $729,600.00. Following the completion of the sale, the chief operating officer directly owned 4,712 shares of the company's stock, valued at $1,145,958.40. The trade was a 38.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,770 shares of company stock worth $1,894,934 over the last three months.

Institutional Trading of Flutter Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. Parvus Asset Management Europe Ltd purchased a new stake in Flutter Entertainment during the fourth quarter valued at about $2,146,227,000. Norges Bank bought a new position in Flutter Entertainment in the 4th quarter worth approximately $946,681,000. Invesco Ltd. bought a new position in Flutter Entertainment during the 4th quarter valued at $621,680,000. Lone Pine Capital LLC bought a new stake in shares of Flutter Entertainment during the 4th quarter worth $494,291,000. Finally, Capital World Investors lifted 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 valued at $3,986,968,000 after purchasing an additional 1,635,241 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.