Flutter Entertainment plc (NYSE:FLUT) Director Sells $64,707.70 in Stock

Flutter Entertainment plc (NYSE:FLUT) Director Atif Rafiq sold 265 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $244.18, for a total transaction of $64,707.70. Following the completion of the transaction, the director now directly owns 2,474 shares in the company, valued at $604,101.32. This trade represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Flutter Entertainment Trading Up 2.9%

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

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

Analysts Set New Price Targets

Several analysts have commented on FLUT shares. UBS Group lifted their price objective on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Sanford C. Bernstein began coverage on shares of Flutter Entertainment in a report on Wednesday, June 4th. They issued a “market perform” rating and a $275.00 price target on the stock. Barclays reduced their price objective on Flutter Entertainment from $300.00 to $293.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. JMP Securities lowered their target price on Flutter Entertainment from $317.00 to $301.00 and set a “market outperform” rating on the stock in a research note on Thursday. Finally, Benchmark reiterated a “buy” rating and set a $300.00 price target on shares of Flutter Entertainment in a research note on Monday, April 21st. One investment analyst has rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $303.79.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. PARUS FINANCE UK Ltd boosted its stake in Flutter Entertainment by 1.5% during the first quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock valued at $742,000 after buying an additional 50 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Flutter Entertainment by 3.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock valued at $407,000 after acquiring an additional 53 shares in the last quarter. Seelaus Asset Management LLC boosted its position in shares of Flutter Entertainment by 6.4% during the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock valued at $236,000 after acquiring an additional 55 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in shares of Flutter Entertainment by 43.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock valued at $41,000 after acquiring an additional 56 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Flutter Entertainment by 78.9% during the first quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after purchasing an additional 60 shares in the last quarter.

Flutter Entertainment Company Profile

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.