Flutter Entertainment (NYSE:FLUT) Given New $305.00 Price Target at Truist Financial

Flutter Entertainment (NYSE:FLUT) had its price target lowered by Truist Financial from $335.00 to $305.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on FLUT. Weiss Ratings restated a “hold (c-)” rating on shares of Flutter Entertainment in a research note on Wednesday, October 8th. Kepler Capital Markets upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, August 28th. Barclays boosted their price objective on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. JMP Securities lowered their target price on Flutter Entertainment from $345.00 to $340.00 and set a “market outperform” rating for the company in a report on Wednesday, October 1st. Finally, Benchmark decreased their target price on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.22.

Flutter Entertainment Stock Performance

NYSE FLUT traded down $2.03 during midday trading on Thursday, hitting $198.97. The company had a trading volume of 5,126,471 shares, compared to its average volume of 2,371,479. The firm has a fifty day simple moving average of $253.33 and a two-hundred day simple moving average of $268.25. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. Flutter Entertainment has a fifty-two week low of $193.27 and a fifty-two week high of $313.68. The stock has a market cap of $35.04 billion, a price-to-earnings ratio of 98.01 and a beta of 1.84.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $0.77 by $0.87. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. Flutter Entertainment has set its FY 2025 guidance at EPS. Equities analysts forecast that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has approved a share buyback plan on Friday, August 8th that allows the company to repurchase $245.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the sale, the chief executive officer directly owned 69,850 shares in the company, valued at $21,367,813.50. This trade represents a 5.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total value of $617,591.04. Following the transaction, the chief executive officer directly owned 31,944 shares in the company, valued at $9,341,064.48. The trade was a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Flutter Entertainment by 402.4% in the 2nd quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after purchasing an additional 13,822,673 shares during the period. Parvus Asset Management Jersey Ltd purchased a new stake in shares of Flutter Entertainment during the 2nd quarter worth approximately $2,231,266,000. Norges Bank purchased a new stake in shares of Flutter Entertainment in the second quarter worth approximately $930,349,000. State Street Corp increased its holdings in Flutter Entertainment by 120.3% during the second quarter. State Street Corp now owns 3,086,730 shares of the company’s stock valued at $882,064,000 after buying an additional 1,685,556 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Flutter Entertainment by 196.5% during the 1st quarter. BNP Paribas Financial Markets now owns 1,994,656 shares of the company’s stock worth $441,916,000 after purchasing an additional 1,322,016 shares during the last quarter.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.