Flutter Entertainment (NYSE:FLUT) CFO Robert Coldrake Sells 991 Shares of Stock

Flutter Entertainment PLC (NYSE:FLUT) CFO Robert Coldrake sold 991 shares of Flutter Entertainment stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $82.34, for a total value of $81,598.94. Following the sale, the chief financial officer owned 23,888 shares of the company’s stock, valued at approximately $1,966,937.92. This trade represents a 3.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Robert Coldrake also recently made the following trade(s):

• On Tuesday, September 1st, Robert Coldrake sold 710 shares of Flutter Entertainment stock. The shares were sold at an average price of $97.86, for a total transaction of $69,480.60.

Flutter Entertainment Trading Up 0.4%

Shares of Flutter Entertainment stock opened at $82.02 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment PLC has a 1 year low of $72.56 and a 1 year high of $235.77. The firm has a market cap of $14.23 billion, a PE ratio of 39.32, a PEG ratio of 3.00 and a beta of 1.27. The company has a 50 day simple moving average of $85.07 and a two-hundred day simple moving average of $104.39.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.50). Flutter Entertainment had a negative net margin of 5.37% and a positive return on equity of 4.26%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the business posted $1.64 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts expect that Flutter Entertainment PLC will post 3.05 earnings per share for the current fiscal year.

Institutional Trading of Flutter Entertainment

A number of hedge funds have recently modified their holdings of the business. Bessemer Group Inc. increased its position in Flutter Entertainment by 228.7% during the 3rd quarter. Bessemer Group Inc. now owns 1,433 shares of the company’s stock valued at $108,000 after buying an additional 997 shares in the last quarter. Ground Swell Capital LLC bought a new stake in Flutter Entertainment during the 3rd quarter valued at about $250,000. Danske Bank A S increased its stake in Flutter Entertainment by 96.2% during the 3rd quarter. Danske Bank A S now owns 141,323 shares of the company’s stock valued at $10,534,000 after purchasing an additional 69,300 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Flutter Entertainment by 3.7% in the third quarter. Russell Investments Group Ltd. now owns 62,566 shares of the company’s stock worth $4,664,000 after buying an additional 2,237 shares in the last quarter. Finally, Jefferies Financial Group Inc. increased its position in shares of Flutter Entertainment by 1.0% during the third quarter. Jefferies Financial Group Inc. now owns 100,569 shares of the company’s stock valued at $7,496,000 after acquiring an additional 1,019 shares in the last quarter.

Analysts Set New Price Targets

FLUT has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Flutter Entertainment from $114.00 to $110.00 and set a “neutral” rating for the company in a report on Tuesday, October 20th. Needham & Company LLC lowered their price objective on Flutter Entertainment from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (d)” rating on shares of Flutter Entertainment in a report on Monday, August 24th. Oppenheimer dropped their price target on shares of Flutter Entertainment from $120.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, November 2nd. Finally, Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $131.07.

About Flutter Entertainment

Flutter Entertainment is a global sports betting and gaming company that provides online and retail wagering, casino gaming and poker services. Its brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sportsbet in Australia, and PokerStars in international markets.

The company serves customers across the United States, the United Kingdom and Ireland, Australia, and other international markets. Its offerings include online sports betting, iGaming products such as casino games, poker platforms, and, in some markets, betting shops.

Flutter was formed in 2016 through the merger of Paddy Power and Betfair and adopted the Flutter Entertainment name in 2019.