Insider Selling: Flutter Entertainment (NYSE:FLUT) Director Sells 135 Shares of Stock

Flutter Entertainment PLC (NYSE:FLUT) Director Nancy Dubuc sold 135 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $94.63, for a total value of $12,775.05. Following the completion of the sale, the director owned 1,261 shares in the company, valued at $119,328.43. This trade represents a 9.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Trading Up 1.7%

Shares of NYSE FLUT traded up $1.63 during trading on Friday, reaching $97.21. The company had a trading volume of 702,578 shares, compared to its average volume of 3,583,695. The company’s fifty day moving average price is $103.06 and its 200-day moving average price is $151.21. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. The stock has a market cap of $16.91 billion, a P/E ratio of -45.30, a PEG ratio of 1.27 and a beta of 1.58. 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 (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the company posted $1.59 EPS. The business’s revenue was up 17.4% on a year-over-year basis. As a group, research analysts expect that Flutter Entertainment PLC will post 4.88 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase plan on Wednesday, March 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. JFS Wealth Advisors LLC bought a new position in Flutter Entertainment during the third quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its position in Flutter Entertainment by 219.4% in 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 last quarter. Zions Bancorporation National Association UT increased its position in Flutter Entertainment by 1,685.7% in 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 last quarter. Atlantic Union Bankshares Corp purchased a new stake in Flutter Entertainment in the third quarter worth $34,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after buying an additional 75 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FLUT. UBS Group cut their target price on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. BNP Paribas Exane assumed coverage on Flutter Entertainment in a report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price target on the stock. Canaccord Genuity Group cut 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. Stifel Nicolaus cut their price target on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, Barclays cut their price target on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment has an average rating of “Moderate Buy” and an average price target of $189.26.

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.