Flutter Entertainment (NYSE:FLUT) COO James Philip Bishop Purchases 1,000 Shares

Flutter Entertainment PLC (NYSE:FLUT) COO James Philip Bishop bought 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $99.75 per share, with a total value of $99,750.00. Following the completion of the purchase, the chief operating officer owned 17,605 shares in the company, valued at $1,756,098.75. This represents a 6.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Flutter Entertainment Stock Up 4.3%

FLUT traded up $4.03 during trading on Tuesday, reaching $97.99. The company had a trading volume of 937,060 shares, compared to its average volume of 3,738,396. The company has a market cap of $17.05 billion, a P/E ratio of -45.83, a PEG ratio of 0.84 and a beta of 1.58. Flutter Entertainment PLC has a 12 month low of $93.56 and a 12 month high of $313.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The business’s fifty day moving average price is $106.57 and its 200 day moving average price is $163.84.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The business 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%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business posted $1.59 earnings per share. Equities analysts anticipate that Flutter Entertainment PLC will post 5.14 EPS for the current year.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB raised its stake in Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. JFS Wealth Advisors LLC acquired a new position in shares of Flutter Entertainment in the third quarter valued at $27,000. Zions Bancorporation National Association UT lifted its stake in shares of Flutter Entertainment by 1,685.7% during the 4th 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. JCIC Asset Management Inc. bought a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $32,000. Finally, Atlantic Union Bankshares Corp acquired a new position in Flutter Entertainment in the 3rd quarter valued at about $34,000.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FLUT. UBS Group reduced their price target on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Kepler Capital Markets lowered shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Susquehanna decreased their target price on shares of Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research report on Tuesday, March 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $167.00 price target on shares of Flutter Entertainment in a research report on Friday. Finally, Citizens Jmp decreased their price objective on Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating for the company in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.23.

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.