Insider Buying: Flutter Entertainment (NYSE:FLUT) Director Acquires $51,000.00 in Stock

Flutter Entertainment PLC (NYSE:FLUTGet Free Report) Director Stefan Andreas Bomhard purchased 500 shares of the stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $102.00 per share, with a total value of $51,000.00. Following the transaction, the director directly owned 1,177 shares in the company, valued at approximately $120,054. This trade represents a 73.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $93.70 on Friday. The firm has a market cap of $16.30 billion, a price-to-earnings ratio of -43.78, a PEG ratio of 1.19 and a beta of 1.58. The company’s 50 day moving average is $105.79 and its 200 day moving average is $160.59. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 52-week low of $92.02 and a 52-week high of $313.68.

Flutter Entertainment (NYSE:FLUTGet Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating 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%. Flutter Entertainment’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $1.59 earnings per share. On average, sell-side analysts anticipate that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted 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 buying an additional 79 shares in the last quarter. JFS Wealth Advisors LLC purchased a new stake in Flutter Entertainment during the 3rd quarter valued at about $27,000. Zions Bancorporation National Association UT grew its stake in Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after acquiring an additional 118 shares in the last quarter. JCIC Asset Management Inc. purchased a new stake in Flutter Entertainment during the 3rd quarter valued at about $32,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Flutter Entertainment during the 3rd quarter valued at about $34,000.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FLUT. Canaccord Genuity Group cut their price objective 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $167.00 target price on shares of Flutter Entertainment in a research note on Friday, May 8th. Citigroup downgraded shares of Flutter Entertainment from a “buy” rating to a “sell” rating in a research note on Thursday, April 16th. Truist Financial lowered their target price on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, Needham & Company LLC lowered their target price on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.26.

Check Out Our Latest Report on FLUT

Flutter Entertainment News Roundup

Here are the key news stories impacting Flutter Entertainment this week:

  • Positive Sentiment: CEO Daniel Mark Taylor and director Carolan Lennon bought shares this week, adding to a cluster of insider purchases that can signal management believes FLUT is undervalued after its sharp selloff. Article title
  • Positive Sentiment: Several articles highlighted that analysts still broadly rate Flutter a buy or outperform name, with some pointing to meaningful upside if FanDuel recovery continues and the company executes on its buyback program. Article title
  • Positive Sentiment: Flutter’s board has also been using its $250 million repurchase authorization, and recent share cancellations reinforce the company’s capital-return story. Article title
  • Neutral Sentiment: One report framed Flutter as affected by broader NYSE Composite sentiment, which is more of a market-wide backdrop than a company-specific catalyst. Article title
  • Neutral Sentiment: Coverage of a management reshuffle is drawing attention to CEO Peter Jackson, but the leadership review is still a process story rather than a clear operating update. Article title
  • Negative Sentiment: Investors remain focused on the post-earnings selloff, which was tied to a Q1 miss, concern that U.S. profit targets may be too ambitious, and worries about FanDuel performance. Article title
  • Negative Sentiment: Reporting that BlackRock bought more Flutter shares raised the possibility of a London delisting, adding another layer of uncertainty around the company’s structure and future market access. Article title

About Flutter Entertainment

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Flutter Entertainment (NYSE:FLUT)

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