Flutter Entertainment (NYSE:FLUT) Director Stefan Andreas Bomhard Sells 177 Shares of Stock

Flutter Entertainment PLC (NYSE:FLUT) Director Stefan Andreas Bomhard sold 177 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $16,749.51. Following the sale, the director owned 1,000 shares in the company, valued at $94,630. The trade was a 15.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Stefan Andreas Bomhard also recently made the following trade(s):

• On Friday, May 8th, Stefan Andreas Bomhard bought 500 shares of Flutter Entertainment stock. The shares were acquired at an average price of $102.00 per share, for a total transaction of $51,000.00.

Flutter Entertainment Price Performance

Shares of FLUT stock traded up $1.63 during trading hours on Friday, hitting $97.21. 702,578 shares of the company’s stock were exchanged, compared to its average volume of 3,583,695. The stock’s 50-day moving average is $103.06 and its 200-day moving average is $151.21. 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 stock has a market cap of $16.91 billion, a price-to-earnings ratio of -45.30, a price-to-earnings-growth ratio of 1.27 and a beta of 1.58. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 earnings per share. As a group, research analysts forecast that Flutter Entertainment PLC will post 4.88 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several recent research reports. Sanford C. Bernstein decreased their price target on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, May 7th. Susquehanna decreased their price target on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating on the stock in a report on Tuesday, March 31st. Canaccord Genuity Group decreased their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Citigroup cut Flutter Entertainment from a “buy” rating to a “sell” rating in a report on Thursday, April 16th. Finally, Truist Financial decreased their price target on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.26.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Flutter Entertainment by 1.7% during the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock worth $4,460,076,000 after purchasing an additional 301,879 shares during the period. Capital International Investors raised its position in shares of Flutter Entertainment by 146.8% during the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after purchasing an additional 4,782,302 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Flutter Entertainment during the fourth quarter worth about $1,678,841,000. Caledonia Private Investments Pty Ltd raised its position in shares of Flutter Entertainment by 3.8% during the fourth quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock worth $1,546,538,000 after purchasing an additional 264,856 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Flutter Entertainment by 33,988.7% during the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after purchasing an additional 5,589,099 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.