Insider Selling: Flutter Entertainment (NYSE:FLUT) Director Sells 152 Shares of Stock

by · The Cerbat Gem

Flutter Entertainment PLC (NYSE:FLUT – Get Free Report) Director Nancy Cruickshank sold 152 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 $14,383.76. Following the sale, the director directly owned 2,483 shares of the company’s stock, valued at $234,966.29. This represents a 5.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 – Get Free Report) 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. JFS Wealth Advisors LLC acquired a new stake in shares of Flutter Entertainment during the third quarter worth $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Flutter Entertainment by 219.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the period. Zions Bancorporation National Association UT lifted its stake in shares of Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Flutter Entertainment during the third quarter worth $34,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Flutter Entertainment by 83.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Oppenheimer cut their price objective on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Kepler Capital Markets downgraded shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Stifel Nicolaus lowered their target price on shares of Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $167.00 target price on shares of Flutter Entertainment in a research note on Friday, May 8th. Finally, Truist Financial lowered their target price on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.26.

View Our Latest Report on FLUT

Flutter Entertainment Company Profile

(Get Free Report)

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.

Recommended Stories