Flutter Entertainment (NYSE:FLUT) Shares Up 4.9% – Time to Buy?

Shares of Flutter Entertainment PLC (NYSE:FLUT) traded up 4.9% during mid-day trading on Friday . The stock traded as high as $99.83 and last traded at $99.71. 868,311 shares traded hands during trading, a decline of 74% from the average session volume of 3,339,777 shares. The stock had previously closed at $95.01.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FLUT. Deutsche Bank Aktiengesellschaft set a $148.00 target price on Flutter Entertainment in a report on Thursday, August 6th. UBS Group dropped their price target on Flutter Entertainment from $160.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Freedom Capital raised Flutter Entertainment to a “hold” rating in a research report on Monday, June 22nd. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, July 8th. Finally, Wall Street Zen lowered shares of Flutter Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $159.12.

Flutter Entertainment Stock Up 7.2%

The company has a market capitalization of $17.68 billion, a PE ratio of -23.69, a P/E/G ratio of 2.58 and a beta of 1.28. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The firm has a 50 day simple moving average of $102.50 and a two-hundred day simple moving average of $106.23.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.49 earnings per share 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 for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business earned $2.95 earnings per share. Flutter Entertainment’s revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts expect that Flutter Entertainment PLC will post 3.48 EPS for the current year.

Insider Activity at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total value of $197,091.84. Following the completion of the sale, the chief executive officer owned 72,214 shares in the company, valued at approximately $6,739,010.48. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Flutter Entertainment in the 2nd quarter valued at approximately $405,000. Creative Planning acquired a new stake in shares of Flutter Entertainment in the 2nd quarter valued at approximately $296,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after buying an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Flutter Entertainment by 74.6% in the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after buying an additional 106 shares in the last quarter.

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.