Susquehanna Cuts Flutter Entertainment (NYSE:FLUT) Price Target to $143.00

Flutter Entertainment (NYSE:FLUT) had its price objective lowered by Susquehanna from $160.00 to $143.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a positive rating on the stock.

FLUT has been the subject of several other research reports. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a report on Monday, January 5th. BTIG Research dropped their target price on shares of Flutter Entertainment from $180.00 to $177.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Citizens Jmp cut their target price on shares of Flutter Entertainment from $275.00 to $195.00 and set a “market outperform” rating for the company in a research note on Friday, February 27th. UBS Group reduced their price target on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Benchmark decreased their price target 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. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $223.25.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $106.47 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. Flutter Entertainment has a 52 week low of $98.88 and a 52 week high of $313.68. The stock’s 50-day moving average price is $125.52 and its 200-day moving average price is $192.35. The stock has a market capitalization of $18.66 billion, a PE ratio of -59.15, a price-to-earnings-growth ratio of 0.70 and a beta of 1.93.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Friday, February 27th. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period in the previous year, the company posted $2.94 EPS. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, equities analysts expect that Flutter Entertainment will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a share repurchase plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Robert Coldrake sold 4,613 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total transaction of $491,053.85. Following the completion of the sale, the chief financial officer 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amy Howe sold 8,895 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total transaction of $942,069.45. Following the completion of the sale, the chief executive officer owned 78,889 shares of the company’s stock, valued at approximately $8,355,133.99. The trade was a 10.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,834 shares of company stock valued at $1,900,331 in the last 90 days. 0.09% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Flutter Entertainment in the 2nd quarter worth $405,000. Creative Planning purchased a new position in shares of Flutter Entertainment during the 2nd quarter worth $296,000. Franklin Resources Inc. raised its holdings in shares of Flutter Entertainment by 6.5% during the 2nd quarter. Franklin Resources Inc. now owns 6,203 shares of the company’s stock worth $1,773,000 after acquiring an additional 377 shares during the period. Finally, Prudential Financial Inc. acquired a new position in shares of Flutter Entertainment during the 2nd quarter valued at about $1,131,000.

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.