Flutter Entertainment (NYSE:FLUT) Reaches New 1-Year Low – Here’s Why

Flutter Entertainment PLC (NYSE:FLUT)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $93.58 and last traded at $94.0140, with a volume of 4551171 shares trading hands. The stock had previously closed at $101.19.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Truist Financial decreased their target price on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday. Citizens Jmp decreased their target price on Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 7th. Canaccord Genuity Group reduced 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. Stifel Nicolaus reduced their price target on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Finally, Sanford C. Bernstein reduced their price target on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $194.23.

Flutter Entertainment Stock Down 7.1%

The firm has a market cap of $16.36 billion, a price-to-earnings ratio of -43.93, a P/E/G ratio of 0.84 and a beta of 1.58. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a 50-day moving average of $106.57 and a 200-day moving average of $163.84.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.59 earnings per share. Sell-side analysts predict that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized a share buyback plan on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 4,326 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the sale, the chief executive officer owned 36,788 shares of the company’s stock, valued at approximately $3,973,104. This trade represents a 10.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Amy Howe sold 8,895 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total value of $942,069.45. Following the completion of the sale, the chief executive officer directly owned 78,889 shares in the company, valued at approximately $8,355,133.99. This represents a 10.13% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 17,834 shares of company stock valued at $1,900,331. 0.09% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flutter Entertainment

A number of large investors have recently modified their holdings of FLUT. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. JFS Wealth Advisors LLC acquired a new stake in shares of Flutter Entertainment in the 3rd quarter valued at $27,000. Zions Bancorporation National Association UT lifted its stake in shares of Flutter Entertainment by 1,685.7% in the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares during the last quarter. JCIC Asset Management Inc. bought a new position in shares of Flutter Entertainment in the 3rd quarter valued at $32,000. Finally, Atlantic Union Bankshares Corp bought a new position in shares of Flutter Entertainment in the 3rd quarter valued at $34,000.

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.