Citizens Jmp Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its price objective cut by equities researchers at Citizens Jmp from $145.00 to $129.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s target price points to a potential upside of 65.01% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. New Street Research set a $110.00 price target on Flutter Entertainment in a report on Thursday, September 3rd. Wells Fargo & Company dropped their price target on Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 6th. Truist Financial cut their price objective on Flutter Entertainment from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft set a $148.00 price objective on Flutter Entertainment in a research report on Thursday, August 6th. Finally, Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.59.

Flutter Entertainment Stock Down 2.0%

Shares of Flutter Entertainment stock opened at $78.18 on Tuesday. The company has a market cap of $13.57 billion, a price-to-earnings ratio of -18.18, a price-to-earnings-growth ratio of 2.56 and a beta of 1.39. The company’s 50 day moving average is $92.43 and its 200 day moving average is $99.84. Flutter Entertainment has a twelve month low of $73.50 and a twelve month high of $255.26. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.32.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Thursday, August 6th. The company reported $0.49 earnings per share (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 in the prior year, the business posted $2.95 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts anticipate that Flutter Entertainment will post 3.48 EPS for the current year.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Jackson sold 1,762 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $172,429.32. Following the completion of the sale, the chief executive officer directly owned 70,452 shares of the company’s stock, valued at approximately $6,894,432.72. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Taylor sold 791 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $77,407.26. Following the completion of the transaction, the chief executive officer owned 52,467 shares in the company, valued at $5,134,420.62. The trade was a 1.49% 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. Insiders sold a total of 6,681 shares of company stock valued at $644,214 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC raised its holdings in Flutter Entertainment by 39.3% in the 2nd quarter. Tidal Investments LLC now owns 11,700 shares of the company’s stock worth $1,195,000 after purchasing an additional 3,299 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Flutter Entertainment during the second quarter valued at $119,000. Allworth Financial LP grew its holdings 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. AlphaGrep UK Ltd bought a new stake in Flutter Entertainment during the second quarter valued at about $203,000. Finally, TD Waterhouse Canada Inc. grew its holdings in Flutter Entertainment by 65.8% during the second quarter. TD Waterhouse Canada Inc. now owns 630 shares of the company’s stock valued at $67,000 after purchasing an additional 250 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 provides online and retail betting, casino, poker, bingo and lottery-related products through a portfolio of brands serving customers in multiple regulated markets.

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, Sisal in Italy and other markets, and tombola, an online bingo operator.