Flutter Entertainment (NYSE:FLUT) Price Target Cut to $293.00 by Analysts at Barclays

Flutter Entertainment (NYSE:FLUT) had its price objective cut by equities researchers at Barclays from $300.00 to $293.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 24.81% from the company’s current price.

A number of other research analysts also recently weighed in on FLUT. Truist Financial cut their price target on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Wells Fargo & Company raised their price objective on Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Citizens Jmp decreased their target price on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, BTIG Research decreased their price objective on shares of Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Twenty research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $306.28.

Flutter Entertainment Trading Down 2.7 %

NYSE FLUT opened at $234.76 on Thursday. The company has a market capitalization of $41.49 billion and a PE ratio of 1,067.09. Flutter Entertainment has a 1-year low of $174.03 and a 1-year high of $299.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $234.03 and its 200-day simple moving average is $253.39.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Flutter Entertainment will post 4.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total value of $3,077,547.00. Following the sale, the chief executive officer now directly owns 62,941 shares in the company, valued at approximately $16,396,130.50. This represents a 15.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeremy Peter Jackson sold 25,027 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total value of $6,556,072.92. Following the transaction, the director now owns 21,148 shares of the company’s stock, valued at $5,539,930.08. This trade represents a 54.20 % decrease in their position. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently made changes to their positions in FLUT. Capital World Investors grew its stake in Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company’s stock worth $3,986,968,000 after buying an additional 1,635,241 shares during the last quarter. Vanguard Group Inc. grew its position in Flutter Entertainment by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 9,591,786 shares of the company’s stock worth $2,479,812,000 after acquiring an additional 299,300 shares during the last quarter. Parvus Asset Management Europe Ltd acquired a new stake in Flutter Entertainment during the 4th quarter valued at $2,146,227,000. Norges Bank acquired a new stake in Flutter Entertainment during the 4th quarter valued at $946,681,000. Finally, FMR LLC raised its position in Flutter Entertainment by 0.8% in the 4th quarter. FMR LLC now owns 3,401,092 shares of the company’s stock valued at $881,349,000 after purchasing an additional 25,422 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.