Flutter Entertainment (NYSE:FLUT) Stock Gets Price Target Reduction from Wedbush

by · The Cerbat Gem

Flutter Entertainment (NYSE:FLUT – Free Report) had its price objective trimmed by Wedbush from $126.00 to $110.00 in a report published on Thursday, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

FLUT has been the subject of a number of other reports. Susquehanna reduced their price objective on shares of Flutter Entertainment from $115.00 to $100.00 and set a “positive” rating for the company in a report on Thursday. Wall Street Zen lowered shares of Flutter Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Jefferies Financial Group reiterated a “buy” rating and set a $180.00 price target on shares of Flutter Entertainment in a research note on Sunday, August 9th. Finally, New Street Research set a $110.00 price objective on Flutter Entertainment in a report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $144.70.

View Our Latest Report on Flutter Entertainment

Flutter Entertainment Trading Down 2.2%

Shares of Flutter Entertainment stock opened at $79.76 on Thursday. The stock has a market capitalization of $13.84 billion, a PE ratio of -18.55, a price-to-earnings-growth ratio of 2.56 and a beta of 1.39. Flutter Entertainment has a 52 week low of $73.50 and a 52 week high of $255.26. The stock has a 50 day moving average price of $92.98 and a two-hundred day moving average price of $100.11. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89.

Flutter Entertainment (NYSE:FLUT – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company earned $2.95 earnings per share. Flutter Entertainment’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Flutter Entertainment will post 3.48 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Don H. Liu sold 565 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $55,290.90. Following the completion of the sale, the insider directly owned 20,441 shares of the company’s stock, valued at $2,000,356.26. This trade represents a 2.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Jackson sold 2,112 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total transaction of $197,091.84. Following the completion of the transaction, the chief executive officer directly owned 72,214 shares in the company, valued at $6,739,010.48. This trade represents a 2.84% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 6,681 shares of company stock worth $644,214. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Flutter Entertainment

A number of large investors have recently added to or reduced their stakes in the stock. LM Advisors LLC purchased a new position in Flutter Entertainment in the fourth quarter valued at about $46,000. Parallel Advisors LLC increased its stake in shares of Flutter Entertainment by 489.7% during the 1st quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock worth $47,000 after purchasing an additional 382 shares during the last quarter. CX Institutional raised its holdings in shares of Flutter Entertainment by 729.7% in the 2nd quarter. CX Institutional now owns 531 shares of the company’s stock worth $54,000 after purchasing an additional 467 shares during the period. Allworth Financial LP raised its holdings in shares of Flutter Entertainment by 167.8% in the 2nd quarter. Allworth Financial LP now owns 557 shares of the company’s stock worth $57,000 after purchasing an additional 349 shares during the period. Finally, Solstein Capital LLC purchased a new position in Flutter Entertainment in the fourth quarter valued at approximately $127,000.

Flutter Entertainment Company Profile

(Get Free Report)

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.

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