Flutter Entertainment (NYSE:FLUT) Insider Purchases 1,459 Shares

Flutter Entertainment PLC (NYSE:FLUT) insider Don Liu purchased 1,459 shares of Flutter Entertainment stock in a transaction on Friday, May 8th. The stock was bought at an average price of $102.78 per share, for a total transaction of $149,956.02. Following the completion of the acquisition, the insider owned 22,265 shares in the company, valued at $2,288,396.70. The trade was a 7.01% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Flutter Entertainment Price Performance

Shares of FLUT traded up $4.03 during midday trading on Tuesday, hitting $97.99. 937,060 shares of the company traded hands, compared to its average volume of 3,738,396. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of -45.83, a PEG ratio of 0.84 and a beta of 1.58. The firm has a 50 day moving average of $106.57 and a 200-day moving average of $163.84. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. Flutter Entertainment PLC has a 52 week low of $93.56 and a 52 week high of $313.68.

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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FLUT shares. Oppenheimer reduced their price objective on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Truist Financial decreased their price target on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday. UBS Group cut their price objective on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Bank of America reduced their price objective on shares of 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 analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.23.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLUT. ABN Amro Investment Solutions bought a new stake in shares of Flutter Entertainment in the 1st quarter valued at about $574,000. Oslo Pensjonsforsikring AS bought a new position in shares of Flutter Entertainment during the first quarter valued at approximately $238,000. Parallel Advisors LLC boosted its stake in shares of Flutter Entertainment by 489.7% during the first quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock valued at $47,000 after purchasing an additional 382 shares in the last quarter. Swiss National Bank increased its holdings in Flutter Entertainment by 7.1% during the first quarter. Swiss National Bank now owns 490,422 shares of the company’s stock valued at $49,999,000 after buying an additional 32,480 shares during the period. Finally, HughesLittle Investment Management Ltd. raised its stake in Flutter Entertainment by 34.8% in the first quarter. HughesLittle Investment Management Ltd. now owns 329,440 shares of the company’s stock worth $33,586,000 after buying an additional 85,050 shares in the last quarter.

About Flutter Entertainment

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.