Flutter Entertainment (NYSE:FLUT) Director Sells $12,775.05 in Stock

Flutter Entertainment PLC (NYSE:FLUT) Director Christine Mccarthy sold 135 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $94.63, for a total transaction of $12,775.05. Following the transaction, the director directly owned 1,262 shares in the company, valued at approximately $119,423.06. The trade was a 9.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Up 1.7%

FLUT stock traded up $1.63 during trading on Friday, hitting $97.21. 702,578 shares of the company’s stock traded hands, compared to its average volume of 3,583,695. The firm has a market capitalization of $16.91 billion, a P/E ratio of -45.30, a PEG ratio of 1.27 and a beta of 1.58. The business has a fifty day simple moving average of $103.06 and a two-hundred day simple moving average of $151.21. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $1.59 earnings per share. Sell-side analysts anticipate that Flutter Entertainment PLC will post 4.88 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MML Investors Services LLC lifted its stake in shares of 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 buying an additional 45 shares during the period. OneDigital Investment Advisors LLC lifted its stake in shares of 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 buying an additional 49 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of 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 buying an additional 58 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares during the period. Finally, Truist Financial Corp lifted its stake in shares of Flutter Entertainment by 2.8% during the fourth quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock worth $560,000 after buying an additional 72 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FLUT shares. Citizens Jmp cut their price target on shares of Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating on the stock in a report on Thursday, May 7th. Truist Financial cut their price target on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Moffett Nathanson lowered shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a report on Friday, April 24th. Barclays cut their price target on shares of Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, UBS Group cut their price target on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $189.26.

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.