Insider Selling: Flutter Entertainment (NYSE:FLUT) CEO Sells $197,091.84 in Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total value of $197,091.84. Following the completion of the transaction, the chief executive officer owned 72,214 shares in the company, valued at approximately $6,739,010.48. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Up 3.1%

Shares of NYSE FLUT opened at $102.66 on Friday. Flutter Entertainment PLC has a 12-month low of $89.71 and a 12-month high of $309.41. The stock has a market cap of $17.82 billion, a PE ratio of -23.87, a P/E/G ratio of 2.60 and a beta of 1.28. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The company has a 50-day moving average of $102.97 and a 200 day moving average of $108.13.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $2.95 earnings per share. As a group, sell-side analysts predict that Flutter Entertainment PLC will post 3.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FLUT. Deutsche Bank Aktiengesellschaft set a $148.00 price target on shares of Flutter Entertainment in a research note on Thursday, August 6th. Wedbush lowered their price objective on shares of Flutter Entertainment from $138.00 to $126.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, July 8th. Zacks Research downgraded shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Finally, Truist Financial decreased their price target on shares of Flutter Entertainment from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.12.

Institutional Trading of Flutter Entertainment

Several hedge funds have recently added to or reduced their stakes in the company. MML Investors Services LLC grew its holdings in Flutter Entertainment by 0.6% during the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after acquiring an additional 45 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Flutter Entertainment by 2.8% in the 4th quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock valued at $560,000 after purchasing an additional 72 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Flutter Entertainment by 0.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,119 shares of the company’s stock valued at $1,961,000 after purchasing an additional 80 shares in the last quarter.

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.