Flutter Entertainment (NYSE:FLUT) Earns “Neutral” Rating from Rothschild & Co Redburn

Flutter Entertainment (NYSE:FLUT)‘s stock had its “neutral” rating reiterated by research analysts at Rothschild & Co Redburn in a research note issued to investors on Monday, Marketbeat reports. They presently have a $119.00 price target on the stock, down from their prior price target of $169.00. Rothschild & Co Redburn’s price objective would suggest a potential upside of 34.00% from the stock’s previous close.

FLUT has been the topic of a number of other reports. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th. Stifel Nicolaus dropped their price target on shares of Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Truist Financial cut their price objective on shares of Flutter Entertainment from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Wedbush decreased their price objective on shares of Flutter Entertainment from $138.00 to $126.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. Finally, Citizens Jmp lowered their target price on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.48.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $88.80 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment has a 1-year low of $86.53 and a 1-year high of $287.44. The company has a market capitalization of $15.41 billion, a price-to-earnings ratio of -20.65, a PEG ratio of 2.20 and a beta of 1.26. The business has a 50-day moving average of $99.87 and a 200-day moving average of $102.82.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 earnings per share. On average, equities analysts anticipate that Flutter Entertainment will post 3.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Daniel Taylor sold 791 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $77,407.26. Following the transaction, the chief executive officer owned 52,467 shares of the company’s stock, valued at approximately $5,134,420.62. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Jackson sold 1,762 shares of Flutter Entertainment stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $172,429.32. Following the completion of the transaction, the chief executive officer owned 70,452 shares of the company’s stock, valued at $6,894,432.72. This trade represents a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 6,681 shares of company stock worth $644,214. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. IFP Advisors Inc raised its stake in Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after acquiring an additional 90 shares in the last quarter. LM Advisors LLC bought a new position in shares of Flutter Entertainment in the fourth quarter worth $46,000. Parallel Advisors LLC grew its stake in shares of Flutter Entertainment by 489.7% in the first quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock worth $47,000 after purchasing an additional 382 shares in the last quarter. CX Institutional increased its holdings in shares of Flutter Entertainment by 729.7% during the second quarter. CX Institutional now owns 531 shares of the company’s stock valued at $54,000 after purchasing an additional 467 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of 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.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter’s portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.