BTIG Research Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price objective decreased by analysts at BTIG Research from $180.00 to $177.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 70.94% from the company’s current price.

Several other equities research analysts have also recently weighed in on FLUT. Canaccord Genuity Group decreased their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Morgan Stanley reduced their price objective on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Benchmark lowered their target price on shares of Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Barclays reduced their price target on shares of Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Finally, UBS Group lowered their price objective on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.50.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $103.54 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment has a fifty-two week low of $99.96 and a fifty-two week high of $313.68. The stock has a market cap of $18.15 billion, a PE ratio of -57.52, a price-to-earnings-growth ratio of 0.73 and a beta of 2.30. The stock has a fifty day moving average of $135.72 and a 200-day moving average of $199.50.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The business’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period last year, the company posted $2.94 EPS. Equities research analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its board has initiated a share repurchase program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 8,895 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total transaction of $942,069.45. Following the transaction, the chief executive officer directly owned 78,889 shares of the company’s stock, valued at approximately $8,355,133.99. This trade represents a 10.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert Coldrake sold 4,613 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total value of $491,053.85. Following the completion of the sale, the chief financial officer directly owned 10,006 shares of the company’s stock, valued at approximately $1,065,138.70. This represents a 31.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,834 shares of company stock valued at $1,900,331 over the last 90 days. 0.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the business. ORG Partners LLC lifted its stake in Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 43 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after buying an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Flutter Entertainment by 1.2% in the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after buying an additional 49 shares during the period. Versant Capital Management Inc lifted its stake in shares of Flutter Entertainment by 5.6% in the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after acquiring an additional 50 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in Flutter Entertainment by 5.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock valued at $273,000 after acquiring an additional 58 shares during the period.

About Flutter Entertainment

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.