Insider Selling: Flutter Entertainment (NYSE:FLUT) Director Sells 439 Shares of Stock

Flutter Entertainment PLC (NYSE:FLUTGet Free Report) Director Carolan Lennon sold 439 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total transaction of $41,542.57. Following the completion of the transaction, the director directly owned 1,688 shares of the company’s stock, valued at approximately $159,735.44. This trade represents a 20.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Carolan Lennon also recently made the following trade(s):

  • On Tuesday, May 12th, Carolan Lennon acquired 520 shares of Flutter Entertainment stock. The stock was acquired at an average cost of $92.30 per share, with a total value of $47,996.00.

Flutter Entertainment Price Performance

Shares of FLUT stock traded up $1.63 during trading hours on Friday, reaching $97.21. The stock had a trading volume of 702,578 shares, compared to its average volume of 3,583,695. The stock’s fifty day simple moving average is $103.06 and its 200 day simple moving average is $151.21. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. The firm has a market capitalization of $16.91 billion, a PE ratio of -45.30, a PEG ratio of 1.27 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUTGet Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business earned $1.59 earnings per share. Flutter Entertainment’s revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts predict that Flutter Entertainment PLC will post 4.88 EPS for the current year.

Flutter Entertainment announced that its board has initiated a stock buyback plan on Wednesday, March 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FLUT. Cibc World Markets Corp purchased a new position in shares of Flutter Entertainment in the fourth quarter worth $1,678,841,000. Hsbc Holdings PLC increased its stake in shares of Flutter Entertainment by 33,988.7% in the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after buying an additional 5,589,099 shares during the period. Capital International Investors increased its stake in shares of Flutter Entertainment by 146.8% in the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after buying an additional 4,782,302 shares during the period. Norges Bank purchased a new position in shares of Flutter Entertainment in the fourth quarter worth $694,009,000. Finally, Amundi increased its stake in shares of Flutter Entertainment by 463.7% in the first quarter. Amundi now owns 2,059,906 shares of the company’s stock worth $210,007,000 after buying an additional 1,694,474 shares during the period.

Analyst Upgrades and Downgrades

FLUT has been the subject of several research analyst reports. BNP Paribas Exane began coverage on Flutter Entertainment in a research note on Thursday, May 14th. They set an “underperform” rating and a $80.00 price objective for the company. Truist Financial dropped 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 report on Thursday, May 7th. Kepler Capital Markets lowered shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Flutter Entertainment in a research report on Wednesday. Finally, Citigroup lowered shares of Flutter Entertainment from a “buy” rating to a “sell” rating in a research report on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $189.26.

Get Our Latest Stock Analysis on FLUT

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.

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