Flutter Entertainment plc (NYSE:FLUT) Director Sells $64,447.68 in Stock

Flutter Entertainment plc (NYSE:FLUT) Director Christine M. Mccarthy sold 264 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the completion of the transaction, the director now owns 559 shares in the company, valued at $136,463.08. This trade represents a 32.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $249.61 on Monday. The firm’s 50-day moving average is $236.90 and its 200-day moving average is $253.69. The company has a market cap of $44.10 billion and a price-to-earnings ratio of 86.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.30). The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Equities research analysts anticipate that Flutter Entertainment plc will post 4.17 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on FLUT. BTIG Research lowered their price target on Flutter Entertainment from $323.00 to $289.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. JMP Securities reduced their target price on shares of Flutter Entertainment from $317.00 to $301.00 and set a “market outperform” rating for the company in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Macquarie reissued an “outperform” rating and set a $340.00 target price (up from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $303.79.

Institutional Trading of Flutter Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of FLUT. DJE Kapital AG bought a new position in Flutter Entertainment in the fourth quarter worth $442,000. Bank of New York Mellon Corp lifted its holdings in shares of Flutter Entertainment by 68.3% during the 4th quarter. Bank of New York Mellon Corp now owns 199,813 shares of the company’s stock worth $51,642,000 after acquiring an additional 81,101 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Flutter Entertainment by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 661,301 shares of the company’s stock valued at $170,913,000 after acquiring an additional 38,800 shares in the last quarter. Plato Investment Management Ltd raised its position in Flutter Entertainment by 244.4% in the fourth quarter. Plato Investment Management Ltd now owns 3,265 shares of the company’s stock worth $847,000 after purchasing an additional 2,317 shares in the last quarter. Finally, Egerton Capital UK LLP lifted its stake in Flutter Entertainment by 3.4% during the fourth quarter. Egerton Capital UK LLP now owns 1,877,383 shares of the company’s stock worth $485,210,000 after purchasing an additional 61,833 shares during the period.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.