Flutter Entertainment PLC (NYSE:FLUT – Get Free Report) CFO Robert Coldrake sold 129 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $101.40, for a total value of $13,080.60. Following the completion of the sale, the chief financial officer owned 23,488 shares of the company’s stock, valued at $2,381,683.20. This trade represents a 0.55% 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.
Robert Coldrake also recently made the following trade(s):
- On Wednesday, March 11th, Robert Coldrake sold 4,613 shares of Flutter Entertainment stock. The stock was sold at an average price of $106.45, for a total value of $491,053.85.
Flutter Entertainment Trading Down 1.0%
NYSE:FLUT opened at $95.02 on Thursday. 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 firm has a market capitalization of $16.53 billion, a price-to-earnings ratio of -44.40, a price-to-earnings-growth ratio of 1.21 and a beta of 1.58. Flutter Entertainment PLC has a one year low of $92.22 and a one year high of $313.68. The business has a fifty day moving average price of $106.15 and a 200-day moving average price of $161.64.
Flutter Entertainment announced that its Board of Directors has initiated a share buyback program on Wednesday, March 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
Trending Headlines about Flutter Entertainment
Here are the key news stories impacting Flutter Entertainment this week:
- Positive Sentiment: Several insiders have been buying shares, including CEO Daniel Mark Taylor, COO James Philip Bishop, and directors John A. Bryant, Stefan Andreas Bomhard, and Don H. Liu. That cluster of buying can signal management confidence that FLUT may be undervalued after the recent decline. Article on insider buying
- Positive Sentiment: Flutter canceled 197,611 shares in the latest tranche of its $5 billion buyback program, which supports earnings per share and shows continued capital return to shareholders. Article on buyback cancellation
- Neutral Sentiment: BlackRock reportedly added more Flutter shares, which may reflect institutional confidence and also fuel speculation that a London delisting could become more likely. Article on BlackRock buying shares
- Neutral Sentiment: Analysts’ questions from Flutter’s Q1 earnings call suggest investors are still focused on execution, margin trends, and the durability of U.S. growth after the recent reset in expectations. Article on Q1 earnings call questions
- Negative Sentiment: Citi warned Flutter’s U.S. profit targets may still be too high, raising the risk of further disappointment if second-half results do not meet expectations. Article on Citi warning
- Negative Sentiment: A recent report said FLUT was down sharply after its Q1 miss, CEO exit, and leadership shake-up, reinforcing concerns about the company’s near-term earnings trajectory and management stability. Article on stock decline
Analysts Set New Price Targets
FLUT has been the subject of a number of analyst reports. Susquehanna cut their price target on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research note on Tuesday, March 31st. Needham & Company LLC cut their price target on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Barclays cut their price objective on shares of Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Stifel Nicolaus lowered their target price on shares of Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, Canaccord Genuity Group lowered their target price on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $194.23.
Get Our Latest Stock Report on FLUT
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its stake 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 purchasing an additional 79 shares during the last quarter. JFS Wealth Advisors LLC bought a new stake in Flutter Entertainment in the third quarter worth about $27,000. Zions Bancorporation National Association UT lifted its stake 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 purchasing an additional 118 shares during the last quarter. JCIC Asset Management Inc. bought a new stake in Flutter Entertainment in the third quarter worth about $32,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Flutter Entertainment in the third quarter worth about $34,000.
Flutter Entertainment Company Profile
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.
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