Flutter Entertainment (NYSE:FLUT) Director Sells $20,250.82 in Stock

Flutter Entertainment PLC (NYSE:FLUT) Director John Bryant sold 214 shares of Flutter Entertainment stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $94.63, for a total value of $20,250.82. Following the completion of the transaction, the director directly owned 9,021 shares of the company’s stock, valued at approximately $853,657.23. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a 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.

Flutter Entertainment Trading Up 1.7%

NYSE FLUT traded up $1.63 during trading on Friday, hitting $97.21. The stock had a trading volume of 702,578 shares, compared to its average volume of 3,583,695. The company has a market capitalization of $16.91 billion, a PE 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. The firm has a 50 day moving average price of $103.06 and a 200 day moving average price of $151.21. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.Flutter Entertainment’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 EPS. As a group, equities research analysts forecast that Flutter Entertainment PLC will post 4.88 earnings per share for the current year.

Flutter Entertainment declared that its board has authorized a stock repurchase plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on FLUT. BNP Paribas Exane assumed coverage on Flutter Entertainment in a research report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 target price for the company. Citigroup downgraded Flutter Entertainment from a “buy” rating to a “sell” rating in a research report on Thursday, April 16th. Canaccord Genuity Group dropped their price objective on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Needham & Company LLC dropped their price objective on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Moffett Nathanson downgraded shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price objective on the stock. in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.26.

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Flutter Entertainment by 1.7% in the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock valued at $4,460,076,000 after purchasing an additional 301,879 shares in the last quarter. Capital International Investors boosted its holdings in Flutter Entertainment by 146.8% in the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after purchasing an additional 4,782,302 shares in the last quarter. Cibc World Markets Corp acquired a new position in Flutter Entertainment in the fourth quarter valued at approximately $1,678,841,000. Caledonia Private Investments Pty Ltd boosted its holdings in Flutter Entertainment by 3.8% in the fourth quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after purchasing an additional 264,856 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Flutter Entertainment by 33,988.7% in the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after purchasing an additional 5,589,099 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.