Insider Buying: Flutter Entertainment (NYSE:FLUT) CEO Buys $99,689.33 in Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Daniel Mark Taylor acquired 1,013 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $98.41 per share, for a total transaction of $99,689.33. Following the completion of the acquisition, the chief executive officer directly owned 32,973 shares of the company’s stock, valued at $3,244,872.93. This trade represents a 3.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Daniel Mark Taylor also recently made the following trade(s):

• On Tuesday, May 12th, Daniel Mark Taylor acquired 1,611 shares of Flutter Entertainment stock. The stock was acquired at an average price of $94.29 per share, for a total transaction of $151,901.19.

Flutter Entertainment Trading Down 1.5%

Shares of NYSE FLUT opened at $92.44 on Friday. The company’s 50 day simple moving average is $105.39 and its 200 day simple moving average is $160.11. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. The firm has a market capitalization of $16.08 billion, a P/E ratio of -43.19, a P/E/G ratio of 1.18 and a beta of 1.58. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping 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%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $1.59 earnings per share. On average, analysts predict that Flutter Entertainment PLC will post 5.14 EPS for the current year.

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

Institutional Trading of Flutter Entertainment

A number of hedge funds have recently modified their holdings of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Flutter Entertainment by 5.6% during the 1st 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 during the last quarter. Sivia Capital Partners LLC acquired a new stake in Flutter Entertainment in the 2nd quarter worth about $405,000. Creative Planning acquired a new stake in Flutter Entertainment in the 2nd quarter worth about $296,000. Northwestern Mutual Wealth Management Co. raised its stake in Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after purchasing an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Flutter Entertainment by 74.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after purchasing an additional 106 shares in the last quarter.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of analyst reports. Stifel Nicolaus decreased 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 report on Thursday, April 9th. Bank of America decreased their price objective on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, January 22nd. BTIG Research decreased their price objective on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $167.00 price objective on shares of Flutter Entertainment in a research report on Friday, May 8th. Finally, Citigroup downgraded shares of Flutter Entertainment from a “buy” rating to a “sell” rating in a research report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.