Flutter Entertainment (NYSE:FLUT) Cut to Sell at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Flutter Entertainment (NYSE:FLUT – Free Report) from a hold rating to a sell rating in a research note published on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Wells Fargo & Company lowered their target price on shares of Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Thursday. BNP Paribas Exane began coverage on Flutter Entertainment in a report on Thursday, May 14th. They set an “underperform” rating and a $80.00 target price on the stock. Barclays reduced their price target on Flutter Entertainment from $151.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, BTIG Research decreased their price target on Flutter Entertainment from $120.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.09.

Check Out Our Latest Analysis on Flutter Entertainment

Flutter Entertainment Price Performance

Shares of FLUT opened at $94.46 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $16.39 billion, a PE ratio of -21.97, a PEG ratio of 1.77 and a beta of 1.28. The firm’s 50 day moving average price is $104.33 and its 200 day moving average price is $112.36. Flutter Entertainment has a twelve month low of $89.71 and a twelve month high of $309.41.

Flutter Entertainment (NYSE:FLUT – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.49 EPS 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 business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the firm earned $2.95 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Flutter Entertainment will post 4.72 EPS for the current fiscal year.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, Director Carolan Lennon sold 439 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $41,542.57. Following the completion of the sale, the director owned 1,688 shares in the company, valued at approximately $159,735.44. This trade represents a 20.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu sold 1,259 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total value of $117,552.83. Following the completion of the sale, the insider directly owned 21,006 shares in the company, valued at approximately $1,961,330.22. This represents a 5.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 2,781 shares of company stock worth $261,580. 0.13% of the stock is owned by company insiders.

Institutional Trading of Flutter Entertainment

Large investors have recently added to or reduced their stakes in the company. Cibc World Markets Corp bought a new stake in Flutter Entertainment during the 4th quarter worth approximately $1,678,841,000. Hsbc Holdings PLC raised its position in Flutter Entertainment by 33,988.7% in the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after purchasing an additional 5,589,099 shares during the last quarter. Capital International Investors boosted its stake in Flutter Entertainment by 146.8% in the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after purchasing an additional 4,782,302 shares in the last quarter. Norges Bank acquired a new position in Flutter Entertainment in the fourth quarter worth $694,009,000. Finally, Amundi grew its holdings in shares of Flutter Entertainment by 463.7% during the first quarter. Amundi now owns 2,059,906 shares of the company’s stock worth $210,007,000 after purchasing an additional 1,694,474 shares during the last quarter.

Flutter Entertainment Company Profile

(Get Free Report)

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.

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