Flutter Entertainment (NYSE:FLUT) Sees Unusually-High Trading Volume – Here’s Why

Flutter Entertainment PLC (NYSE:FLUT) shares saw unusually-strong trading volume on Monday . 2,181,553 shares traded hands during trading, a decline of 35% from the previous session’s volume of 3,346,714 shares.The stock last traded at $101.9760 and had previously closed at $101.78.

Analyst Ratings Changes

FLUT has been the subject of a number of analyst reports. UBS Group decreased their price target on Flutter Entertainment from $160.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $180.00 price objective on shares of Flutter Entertainment in a research note on Sunday, August 9th. Wall Street Zen lowered shares of Flutter Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, July 8th. Finally, Freedom Capital raised shares of Flutter Entertainment to a “hold” rating in a report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $159.12.

Flutter Entertainment Stock Down 2.7%

The business’s 50 day moving average is $102.54 and its 200-day moving average is $105.19. The stock has a market cap of $16.91 billion, a price-to-earnings ratio of -22.66, a PEG ratio of 2.54 and a beta of 1.26. 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). Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the firm posted $2.95 EPS. Flutter Entertainment’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts predict that Flutter Entertainment PLC will post 3.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total transaction of $197,091.84. Following the completion of the transaction, the chief executive officer owned 72,214 shares of the company’s stock, valued at $6,739,010.48. This represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Flutter Entertainment

Several large investors have recently made changes to their positions in FLUT. MML Investors Services LLC lifted its holdings in Flutter Entertainment by 0.6% in the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after purchasing an additional 45 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 in the last quarter. Truist Financial Corp grew its holdings 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 in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after buying an additional 75 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Flutter Entertainment by 0.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 9,119 shares of the company’s stock valued at $1,961,000 after buying an additional 80 shares during the last quarter.

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.