Flutter Entertainment (NYSE:FLUT) Trading Up 6.7% – Here’s What Happened

Flutter Entertainment PLC (NYSE:FLUT) shares traded up 6.7% during trading on Tuesday . The company traded as high as $111.47 and last traded at $113.1960. 2,088,055 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 4,424,951 shares. The stock had previously closed at $106.08.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. HSBC raised Flutter Entertainment from a “hold” rating to a “buy” rating and decreased their price target for the company from $265.00 to $228.00 in a report on Monday, November 24th. Stifel Nicolaus dropped their price target on shares of Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. 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. Finally, Canaccord Genuity Group cut their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.65.

Flutter Entertainment Stock Up 0.2%

The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $19.79 billion, a price-to-earnings ratio of -62.62, a PEG ratio of 0.51 and a beta of 2.30. The firm has a fifty day moving average price of $167.65 and a 200 day moving average price of $219.52.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.37). The business had revenue of $4.74 billion during 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 company’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS. As a group, sell-side analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Institutional Trading of Flutter Entertainment

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

Flutter Entertainment Company Profile

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.