Flutter Entertainment (NYSE:FLUT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flutter Entertainment (NYSE:FLUT) from a sell rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the stock. Needham & Company LLC lowered their price objective on shares of Flutter Entertainment from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. JPMorgan Chase & Co. cut their target price on shares of Flutter Entertainment from $114.00 to $110.00 and set a “neutral” rating for the company in a research report on Tuesday, October 20th. Moffett Nathanson reaffirmed a “neutral” rating and set a $92.00 target price on shares of Flutter Entertainment in a report on Thursday, October 22nd. Wells Fargo & Company decreased their price target on shares of Flutter Entertainment from $112.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 5th. Finally, Citizens Jmp dropped their price target on shares of Flutter Entertainment from $129.00 to $116.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 5th. Two 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.07.

Flutter Entertainment Price Performance

NYSE FLUT opened at $82.02 on Friday. The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 39.32, a PEG ratio of 3.00 and a beta of 1.27. 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 business’s fifty day moving average price is $85.07 and its 200-day moving average price is $104.39.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.50). The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.99 billion. Flutter Entertainment had a positive return on equity of 4.26% and a negative net margin of 5.37%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. On average, equities analysts predict that Flutter Entertainment will post 3.05 earnings per share for the current year.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, insider Don H. Liu sold 565 shares of the firm’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 $55,290.90. Following the sale, the insider owned 20,441 shares in the company, valued at approximately $2,000,356.26. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a legal 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, CFO Robert Coldrake sold 991 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $82.34, for a total transaction of $81,598.94. Following the transaction, the chief financial officer directly owned 23,888 shares in the company, valued at $1,966,937.92. This represents a 3.98% decrease in their position. 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 sold a total of 11,399 shares of company stock worth $1,032,694 in the last quarter. 0.13% of the stock is currently owned by insiders.

Institutional Trading of Flutter Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in Flutter Entertainment by 489.7% in the 1st quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock worth $47,000 after buying an additional 382 shares during the period. CX Institutional lifted its position in shares of Flutter Entertainment by 729.7% in the second quarter. CX Institutional now owns 531 shares of the company’s stock valued at $54,000 after acquiring an additional 467 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Flutter Entertainment by 167.8% in the second quarter. Allworth Financial LP now owns 557 shares of the company’s stock worth $57,000 after acquiring an additional 349 shares during the period. TD Waterhouse Canada Inc. boosted its stake in shares of Flutter Entertainment by 65.8% in the second quarter. TD Waterhouse Canada Inc. now owns 630 shares of the company’s stock worth $67,000 after acquiring an additional 250 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Flutter Entertainment by 228.7% in the third quarter. Bessemer Group Inc. now owns 1,433 shares of the company’s stock worth $108,000 after acquiring an additional 997 shares during the period.

Flutter Entertainment Company Profile

Flutter Entertainment is a global sports betting and gaming company that provides online and retail wagering, casino gaming and poker services. Its brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sportsbet in Australia, and PokerStars in international markets.

The company serves customers across the United States, the United Kingdom and Ireland, Australia, and other international markets. Its offerings include online sports betting, iGaming products such as casino games, poker platforms, and, in some markets, betting shops.

Flutter was formed in 2016 through the merger of Paddy Power and Betfair and adopted the Flutter Entertainment name in 2019.