Citizens Jmp Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its target price lowered by stock analysts at Citizens Jmp from $195.00 to $188.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective points to a potential upside of 81.56% from the stock’s current price.

Other analysts have also recently issued reports about the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $228.00 price target (down from $248.00) on shares of Flutter Entertainment in a research report on Wednesday, January 14th. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Monday, January 5th. Benchmark lowered their price target on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Morgan Stanley lowered their price target on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Finally, Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research report on Wednesday, January 21st. 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $222.90.

Flutter Entertainment Stock Performance

FLUT opened at $103.55 on Wednesday. The stock has a market cap of $18.15 billion, a PE ratio of -57.53, a P/E/G ratio of 0.72 and a beta of 1.93. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31. Flutter Entertainment has a 1 year low of $98.88 and a 1 year high of $313.68. The stock’s 50 day simple moving average is $121.46 and its 200-day simple moving average is $187.39.

Flutter Entertainment (NYSE:FLUT) last announced 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 negative net margin of 1.89% and a positive return on equity of 12.12%. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company earned $2.94 earnings per share. The business’s revenue was up 24.9% on a year-over-year basis. Sell-side analysts forecast that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has approved a share repurchase program on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 4,326 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the transaction, the chief executive officer owned 36,788 shares of the company’s stock, valued at approximately $3,973,104. The trade was a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Coldrake sold 4,613 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total value of $491,053.85. Following the completion of the transaction, the chief financial officer directly owned 10,006 shares in the company, valued at approximately $1,065,138.70. This represents a 31.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 17,834 shares of company stock valued at $1,900,331. 0.09% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HughesLittle Investment Management Ltd. boosted its stake in Flutter Entertainment by 3.1% in the fourth quarter. HughesLittle Investment Management Ltd. now owns 244,390 shares of the company’s stock worth $53,001,000 after purchasing an additional 7,275 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in Flutter Entertainment by 19.2% in the fourth quarter. Axxcess Wealth Management LLC now owns 3,085 shares of the company’s stock worth $663,000 after purchasing an additional 497 shares in the last quarter. Vident Advisory LLC boosted its stake in Flutter Entertainment by 10.4% in the fourth quarter. Vident Advisory LLC now owns 1,608 shares of the company’s stock worth $346,000 after purchasing an additional 152 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Flutter Entertainment by 7.9% in the fourth quarter. Mackenzie Financial Corp now owns 12,620 shares of the company’s stock worth $2,739,000 after purchasing an additional 919 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Flutter Entertainment by 22.4% during the fourth quarter. NewEdge Advisors LLC now owns 753 shares of the company’s stock valued at $162,000 after acquiring an additional 138 shares during the period.

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.