Amy Howe Sells 8,895 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Amy Howe sold 8,895 shares of Flutter Entertainment stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total value of $942,069.45. Following the sale, the chief executive officer directly owned 78,889 shares of the company’s stock, valued at approximately $8,355,133.99. This represents a 10.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Flutter Entertainment Stock Performance

Shares of FLUT stock traded up $3.12 during mid-day trading on Friday, reaching $108.65. The stock had a trading volume of 236,053 shares, compared to its average volume of 4,293,213. Flutter Entertainment PLC has a 1-year low of $99.96 and a 1-year high of $313.68. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of -60.35, a PEG ratio of 0.75 and a beta of 2.30. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31. The business’s fifty day moving average is $154.69 and its 200-day moving average is $212.34.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the firm earned $2.94 EPS. On average, research analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its board has initiated a share repurchase program on Wednesday, March 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Flutter Entertainment by 219.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. JFS Wealth Advisors LLC purchased a new position in shares of Flutter Entertainment during the third quarter worth approximately $27,000. Zions Bancorporation National Association UT grew its position in Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the last quarter. JCIC Asset Management Inc. purchased a new stake in shares of Flutter Entertainment in the third quarter valued at about $32,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Flutter Entertainment in the 3rd quarter valued at approximately $34,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FLUT. UBS Group reduced their target price on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. HSBC raised Flutter Entertainment from a “hold” rating to a “buy” rating and cut their price target for the stock from $265.00 to $228.00 in a research report on Monday, November 24th. Stifel Nicolaus lowered their target price on Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Susquehanna reaffirmed a “positive” rating and set a $228.00 target price on shares of Flutter Entertainment in a report on Tuesday, January 27th. Finally, Barclays reduced their price target on Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $234.65.

About Flutter Entertainment

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.