Flutter Entertainment (NYSE:FLUT) Director Purchases $200,577.00 in Stock

Flutter Entertainment PLC (NYSE:FLUT) Director John Bryant bought 1,950 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was acquired at an average price of $102.86 per share, for a total transaction of $200,577.00. Following the acquisition, the director directly owned 9,235 shares in the company, valued at $949,912.10. This trade represents a 26.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Flutter Entertainment Price Performance

Shares of FLUT opened at $93.70 on Friday. The company has a market capitalization of $16.30 billion, a price-to-earnings ratio of -43.78, a P/E/G ratio of 1.19 and a beta of 1.58. Flutter Entertainment PLC has a fifty-two week low of $92.02 and a fifty-two week high of $313.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50-day moving average is $105.79 and its 200-day moving average is $160.59.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 EPS. Equities research analysts expect that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has approved a stock buyback plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Oppenheimer dropped their price objective on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Craig Hallum downgraded Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 21st. Truist Financial dropped their price objective on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price objective on the stock. in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $189.26.

Key Stories Impacting Flutter Entertainment

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: CEO Daniel Mark Taylor and director Carolan Lennon bought shares this week, adding to a cluster of insider purchases that can signal management believes FLUT is undervalued after its sharp selloff. Article title
• Positive Sentiment: Several articles highlighted that analysts still broadly rate Flutter a buy or outperform name, with some pointing to meaningful upside if FanDuel recovery continues and the company executes on its buyback program. Article title
• Positive Sentiment: Flutter’s board has also been using its $250 million repurchase authorization, and recent share cancellations reinforce the company’s capital-return story. Article title
• Neutral Sentiment: One report framed Flutter as affected by broader NYSE Composite sentiment, which is more of a market-wide backdrop than a company-specific catalyst. Article title
• Neutral Sentiment: Coverage of a management reshuffle is drawing attention to CEO Peter Jackson, but the leadership review is still a process story rather than a clear operating update. Article title
• Negative Sentiment: Investors remain focused on the post-earnings selloff, which was tied to a Q1 miss, concern that U.S. profit targets may be too ambitious, and worries about FanDuel performance. Article title
• Negative Sentiment: Reporting that BlackRock bought more Flutter shares raised the possibility of a London delisting, adding another layer of uncertainty around the company’s structure and future market access. Article title

Institutional Investors Weigh In On Flutter Entertainment

A number of large investors have recently added to or reduced their stakes in the stock. ORG Partners LLC boosted its position in Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 43 shares during the period. MML Investors Services LLC boosted its position in Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after purchasing an additional 45 shares during the period. OneDigital Investment Advisors LLC boosted its position in Flutter Entertainment by 1.2% during the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after purchasing an additional 49 shares during the period. Versant Capital Management Inc boosted its position in Flutter Entertainment by 5.6% during the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock worth $240,000 after purchasing an additional 50 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its position in Flutter Entertainment by 5.7% during the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after purchasing an additional 58 shares during the period.

Flutter Entertainment Company Profile

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.