Insider Selling: Flutter Entertainment (NYSE:FLUT) CFO Sells $13,080.60 in Stock

Flutter Entertainment PLC (NYSE:FLUT) CFO Robert Coldrake sold 129 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $101.40, for a total transaction of $13,080.60. Following the transaction, the chief financial officer owned 23,488 shares in the company, valued at approximately $2,381,683.20. The trade was a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 Wednesday, March 11th, Robert Coldrake sold 4,613 shares of Flutter Entertainment stock. The shares were sold at an average price of $106.45, for a total transaction of $491,053.85.

Flutter Entertainment Trading Down 1.4%

NYSE:FLUT opened at $93.70 on Friday. 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 firm has a 50-day moving average of $105.79 and a 200-day moving average of $160.59. The company has a market cap of $16.30 billion, a PE ratio of -43.78, a PEG ratio of 1.19 and a beta of 1.58. Flutter Entertainment PLC has a one year low of $92.02 and a one year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.59 EPS. As a group, 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 repurchase program on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FLUT. Citizens Jmp decreased their price target on Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating for the company in a report on Thursday, May 7th. Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $167.00 price objective on shares of Flutter Entertainment in a report on Friday, May 8th. UBS Group reduced their target price on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Finally, Sanford C. Bernstein lowered their target price on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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 Trading of Flutter Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB grew its stake in Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. JFS Wealth Advisors LLC purchased a new stake in shares of Flutter Entertainment during the 3rd quarter valued at $27,000. Zions Bancorporation National Association UT raised its stake in shares of 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 period. JCIC Asset Management Inc. bought a new stake in shares of Flutter Entertainment during the 3rd quarter worth $32,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Flutter Entertainment in the 3rd quarter worth about $34,000.

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.