Weiss Ratings Reaffirms Hold (C-) Rating for Flutter Entertainment (NYSE:FLUT)

Flutter Entertainment (NYSE:FLUT - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently issued reports on FLUT. Kepler Capital Markets raised Flutter Entertainment to a "strong-buy" rating in a research report on Thursday, August 28th. Stifel Nicolaus boosted their price objective on Flutter Entertainment from $353.00 to $356.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Peel Hunt cut Flutter Entertainment from an "add" rating to a "hold" rating in a research report on Friday, August 8th. Canaccord Genuity Group boosted their price objective on Flutter Entertainment from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Barclays boosted their price objective on Flutter Entertainment from $350.00 to $352.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $337.32.

Flutter Entertainment Trading Up 3.5%

NYSE FLUT opened at $246.24 on Wednesday. The company has a market cap of $43.36 billion, a price-to-earnings ratio of 121.30 and a beta of 1.91. Flutter Entertainment has a 52 week low of $196.88 and a 52 week high of $313.68. The business has a 50 day moving average price of $286.57 and a 200-day moving average price of $266.41. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

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

Flutter Entertainment declared that its Board of Directors has approved a share repurchase plan on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Flutter Entertainment

In other news, insider Daniel Mark Taylor sold 15,283 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the transaction, the insider owned 16,589 shares of the company's stock, valued at $4,724,547.20. This represents a 47.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $281.64, for a total value of $536,242.56. Following the transaction, the insider directly owned 4,712 shares in the company, valued at $1,327,087.68. This represents a 28.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,396 shares of company stock worth $6,759,745 over the last quarter. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Oak Thistle LLC bought a new stake in shares of Flutter Entertainment during the 3rd quarter valued at $2,933,000. GAMMA Investing LLC raised its stake in shares of Flutter Entertainment by 1,164.3% during the 3rd quarter. GAMMA Investing LLC now owns 177 shares of the company's stock valued at $45,000 after purchasing an additional 163 shares during the period. Corient Private Wealth LLC raised its stake in shares of Flutter Entertainment by 24.9% during the 2nd quarter. Corient Private Wealth LLC now owns 5,510 shares of the company's stock valued at $1,575,000 after purchasing an additional 1,097 shares during the period. Osaic Holdings Inc. raised its stake in shares of Flutter Entertainment by 72.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,694 shares of the company's stock valued at $445,000 after purchasing an additional 714 shares during the period. Finally, Orion Porfolio Solutions LLC raised its stake in shares of 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 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.

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