Benchmark Reiterates Buy Rating for Flutter Entertainment (NYSE:FLUT)

Flutter Entertainment (NYSE:FLUT)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a research note issued on Wednesday,Benzinga reports. They presently have a $365.00 price target on the stock. Benchmark’s target price indicates a potential upside of 46.35% from the stock’s previous close.

FLUT has been the subject of a number of other research reports. Jefferies Financial Group initiated coverage on Flutter Entertainment in a research note on Tuesday, July 8th. They set a “buy” rating and a $380.00 price objective for the company. Barclays increased their price target 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. Truist Financial boosted their price objective on shares of Flutter Entertainment from $280.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Needham & Company LLC increased their price objective on Flutter Entertainment from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Citigroup reissued a “buy” rating on shares of Flutter Entertainment in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.32.

Flutter Entertainment Stock Down 1.2%

Shares of FLUT opened at $249.40 on Wednesday. Flutter Entertainment has a 1 year low of $196.88 and a 1 year high of $313.68. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50 day simple moving average of $291.21 and a two-hundred day simple moving average of $266.20. The firm has a market cap of $43.92 billion, a P/E ratio of 122.86 and a beta of 1.93.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. The firm’s revenue was up 16.0% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, 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 stock repurchase plan on Friday, August 8th that permits the company to buyback $245.00 million in shares. This buyback authorization permits the company to reacquire up to 0.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The stock was 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 of the company’s stock, valued at $21,367,813.50. The trade was a 5.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $281.64, for a total value of $536,242.56. Following the completion of the sale, the insider owned 4,712 shares in the company, valued at $1,327,087.68. The trade was a 28.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,396 shares of company stock valued at $6,759,745 in the last quarter. 0.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Flutter Entertainment by 22,057.1% in the 1st quarter. GAMMA Investing LLC now owns 3,102 shares of the company’s stock worth $687,000 after acquiring an additional 3,088 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Flutter Entertainment by 5.4% in the 1st quarter. Rhumbline Advisers now owns 23,806 shares of the company’s stock worth $5,274,000 after purchasing an additional 1,216 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Flutter Entertainment by 43.8% in the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after purchasing an additional 56 shares during the last quarter. Finally, Arthur M. Cohen & Associates LLC lifted its holdings in shares of Flutter Entertainment by 20.6% during the first quarter. Arthur M. Cohen & Associates LLC now owns 1,845 shares of the company’s stock valued at $409,000 after purchasing an additional 315 shares in the last quarter.

Flutter Entertainment Company Profile

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.