Flutter Entertainment (NYSE:FLUT) CEO Jeremy Peter Jackson Sells 2,112 Shares of Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total value of $197,091.84. Following the transaction, the chief executive officer owned 72,214 shares in the company, valued at $6,739,010.48. This trade represents a 2.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $99.47 on Friday. The company’s fifty day moving average price is $103.14 and its 200 day moving average price is $108.16. Flutter Entertainment PLC has a 1 year low of $89.71 and a 1 year high of $309.41. The stock has a market capitalization of $17.26 billion, a P/E ratio of -23.13, a P/E/G ratio of 2.51 and a beta of 1.28. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.Flutter Entertainment’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 EPS. As a group, equities research analysts anticipate that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on FLUT. JPMorgan Chase & Co. initiated coverage on Flutter Entertainment in a research report on Wednesday, August 12th. They set a “neutral” rating and a $114.00 price target for the company. UBS Group decreased their price objective on Flutter Entertainment from $160.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Needham & Company LLC lowered their target price on shares of Flutter Entertainment from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Wedbush lowered their target price on shares of Flutter Entertainment from $138.00 to $126.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Sanford C. Bernstein dropped 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 research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.12.

Institutional Investors Weigh In On Flutter Entertainment

A number of large investors have recently made changes to their positions in the stock. CTC Alternative Strategies Ltd. acquired a new stake in shares of Flutter Entertainment in the second quarter valued at approximately $235,000. Public Employees Retirement System of Ohio acquired a new position in Flutter Entertainment during the second quarter worth $9,881,000. Parvus Asset Management Jersey Ltd acquired a new position in Flutter Entertainment during the second quarter worth $1,552,097,267,000. Charles Lim Capital Ltd acquired a new position in Flutter Entertainment during the second quarter worth $2,810,000. Finally, Versant Capital Management Inc grew its holdings in Flutter Entertainment by 145.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,231 shares of the company’s stock valued at $126,000 after buying an additional 729 shares in the last quarter.

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.