Flutter Entertainment (NYSE:FLUT) Stock Gets Price Target Reduction from BTIG Research

Flutter Entertainment (NYSE:FLUT) had its target price reduced by BTIG Research from $110.00 to $95.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on FLUT. Benchmark reduced their target price on Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Sanford C. Bernstein restated a “market perform” rating on shares of Flutter Entertainment in a research note on Thursday, September 3rd. Moffett Nathanson restated a “neutral” rating and issued a $92.00 target price on shares of Flutter Entertainment in a research note on Thursday, October 22nd. Citigroup upgraded Flutter Entertainment from a “neutral” rating to a “buy” rating and dropped their price target for the company from $93.00 to $91.00 in a research report on Wednesday, October 7th. Finally, Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average price target of $136.30.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $82.76 on Thursday. Flutter Entertainment has a 1 year low of $72.56 and a 1 year high of $235.77. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50-day moving average is $87.11 and its 200 day moving average is $107.68. The stock has a market capitalization of $14.36 billion, a P/E ratio of -19.25, a P/E/G ratio of 2.75 and a beta of 1.39.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the business earned $2.95 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that Flutter Entertainment will post 3.35 earnings per share for the current year.

Insider Buying and Selling

In other Flutter Entertainment news, CFO Robert Coldrake sold 710 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $69,480.60. Following the completion of the sale, the chief financial officer directly owned 22,778 shares in the company, valued at approximately $2,229,055.08. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Bishop sold 741 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $72,514.26. Following the sale, the chief operating officer owned 16,864 shares of the company’s stock, valued at approximately $1,650,311.04. This represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 6,681 shares of company stock worth $644,214 over the last quarter. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vise Technologies Inc. bought a new stake in shares of Flutter Entertainment in the third quarter worth approximately $206,000. Independence Bank of Kentucky raised its holdings in shares of Flutter Entertainment by 45.0% during the third quarter. Independence Bank of Kentucky now owns 14,615 shares of the company’s stock valued at $1,089,000 after purchasing an additional 4,535 shares during the last quarter. Tidal Investments LLC lifted its position in Flutter Entertainment by 39.3% during the second quarter. Tidal Investments LLC now owns 11,700 shares of the company’s stock valued at $1,195,000 after purchasing an additional 3,299 shares during the period. Integrated Wealth Concepts LLC bought a new position in Flutter Entertainment during the second quarter valued at approximately $119,000. Finally, Allworth Financial LP lifted its position in Flutter Entertainment by 167.8% during the second quarter. Allworth Financial LP now owns 557 shares of the company’s stock valued at $57,000 after purchasing an additional 349 shares during the period.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company operates a portfolio of betting, gaming, poker and daily fantasy sports brands, serving customers through online platforms, mobile applications and, in some markets, retail locations.

Its principal brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sky Bet in the United Kingdom, PokerStars internationally, and Sisal and SNAI in Italy.