Jeremy Peter Jackson Sells 2,112 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Jeremy Peter Jackson sold 2,112 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total transaction of $197,091.84. Following the sale, the chief executive officer owned 72,214 shares of the company’s stock, valued at $6,739,010.48. This represents a 2.84% decrease in their position. The sale was disclosed in a legal 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 Trading Up 3.1%

NYSE FLUT opened at $102.66 on Friday. The firm’s fifty day moving average price is $102.97 and its 200 day moving average price is $108.13. Flutter Entertainment PLC has a 12 month low of $89.71 and a 12 month high of $309.41. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $17.82 billion, a price-to-earnings ratio of -23.87, a price-to-earnings-growth ratio of 2.52 and a beta of 1.28.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the business posted $2.95 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.

Institutional Trading of Flutter Entertainment

Several hedge funds have recently made changes to their positions in FLUT. MML Investors Services LLC boosted its holdings in shares of Flutter Entertainment by 0.6% in the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after acquiring an additional 45 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the period. Truist Financial Corp lifted its position in Flutter Entertainment by 2.8% in the fourth quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock valued at $560,000 after purchasing an additional 72 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Flutter Entertainment by 0.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,119 shares of the company’s stock valued at $1,961,000 after purchasing an additional 80 shares in the last quarter.

Analysts Set New Price Targets

FLUT has been the topic of several research reports. UBS Group lowered their price objective on shares of Flutter Entertainment from $160.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. BNP Paribas Exane initiated coverage on shares of Flutter Entertainment in a research note on Thursday, May 14th. They set an “underperform” rating and a $80.00 target price for the company. Freedom Capital raised Flutter Entertainment to a “hold” rating in a report on Monday, June 22nd. Jefferies Financial Group restated a “buy” rating and issued a $180.00 price target on shares of Flutter Entertainment in a research report on Sunday, August 9th. Finally, Wells Fargo & Company reduced their price objective on Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating for the company in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $159.12.

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.