Flutter Entertainment (NYSE:FLUT) CEO Sells $302,632.92 in Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Jeremy Peter Jackson sold 3,084 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the transaction, the chief executive officer owned 74,326 shares in the company, valued at $7,293,610.38. The trade was a 3.98% decrease in their position. 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.

Jeremy Peter Jackson also recently made the following trade(s):

• On Friday, May 8th, Jeremy Peter Jackson purchased 2,400 shares of Flutter Entertainment stock. The stock was bought at an average price of $101.94 per share, with a total value of $244,656.00.
• On Wednesday, March 11th, Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock. The stock was sold at an average price of $108.00, for a total value of $467,208.00.

Flutter Entertainment Stock Up 4.3%

Shares of NYSE FLUT traded up $4.03 during trading on Tuesday, reaching $97.99. 937,060 shares of the stock were exchanged, compared to its average volume of 3,738,396. The company has a market capitalization of $17.05 billion, a price-to-earnings ratio of -45.83, a price-to-earnings-growth ratio of 0.84 and a beta of 1.58. The business’s 50-day moving average price is $106.57 and its 200 day moving average price is $163.84. 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 twelve month low of $93.56 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 EPS. As a group, equities analysts forecast that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment declared that its board has initiated a share repurchase program on Wednesday, March 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

FLUT has been the topic of a number of recent analyst reports. Citigroup lowered Flutter Entertainment from a “buy” rating to a “sell” rating in a research report on Thursday, April 16th. Craig Hallum lowered shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Wednesday, January 21st. Needham & Company LLC reduced their price objective 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. Stifel Nicolaus lowered their price target on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, Bank of America dropped their price target on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $194.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FLUT. Makena Capital Management LLC acquired a new position in Flutter Entertainment during the third quarter worth $11,517,000. TimesSquare Capital Management LLC lifted its position in Flutter Entertainment by 294.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock worth $96,235,000 after buying an additional 282,736 shares in the last quarter. AGF Management Ltd. acquired a new position in shares of Flutter Entertainment during the 3rd quarter worth about $9,519,000. Mutual of America Capital Management LLC acquired a new stake in shares of Flutter Entertainment in the third quarter valued at about $2,173,000. Finally, Federated Hermes Inc. acquired a new position in shares of Flutter Entertainment during the 3rd quarter worth approximately $169,777,000.

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.