Jeremy Peter Jackson Buys 2,400 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Jeremy Peter Jackson acquired 2,400 shares of Flutter Entertainment stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average price of $101.94 per share, for a total transaction of $244,656.00. Following the completion of the acquisition, the chief executive officer owned 70,872 shares in the company, valued at $7,224,691.68. This trade represents a 3.51% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 Monday, May 11th, Jeremy Peter Jackson sold 3,084 shares of Flutter Entertainment stock. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92.
• On Wednesday, March 11th, Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock. The shares were sold at an average price of $108.00, for a total transaction of $467,208.00.

Flutter Entertainment Stock Down 1.0%

Shares of NYSE:FLUT opened at $95.02 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $16.53 billion, a PE ratio of -44.40, a price-to-earnings-growth ratio of 1.21 and a beta of 1.58. The firm’s 50-day moving average is $106.15 and its two-hundred day moving average is $161.64. Flutter Entertainment PLC has a 1 year low of $92.22 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 earnings per share. Analysts predict that Flutter Entertainment PLC will post 5.14 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback program on Wednesday, March 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Flutter Entertainment News Roundup

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: Several insiders have been buying shares, including CEO Daniel Mark Taylor, COO James Philip Bishop, and directors John A. Bryant, Stefan Andreas Bomhard, and Don H. Liu. That cluster of buying can signal management confidence that FLUT may be undervalued after the recent decline. Article on insider buying
• Positive Sentiment: Flutter canceled 197,611 shares in the latest tranche of its $5 billion buyback program, which supports earnings per share and shows continued capital return to shareholders. Article on buyback cancellation
• Neutral Sentiment: BlackRock reportedly added more Flutter shares, which may reflect institutional confidence and also fuel speculation that a London delisting could become more likely. Article on BlackRock buying shares
• Neutral Sentiment: Analysts’ questions from Flutter’s Q1 earnings call suggest investors are still focused on execution, margin trends, and the durability of U.S. growth after the recent reset in expectations. Article on Q1 earnings call questions
• Negative Sentiment: Citi warned Flutter’s U.S. profit targets may still be too high, raising the risk of further disappointment if second-half results do not meet expectations. Article on Citi warning
• Negative Sentiment: A recent report said FLUT was down sharply after its Q1 miss, CEO exit, and leadership shake-up, reinforcing concerns about the company’s near-term earnings trajectory and management stability. Article on stock decline

Institutional Trading of Flutter Entertainment

Large investors have recently made changes to their positions in the company. Makena Capital Management LLC purchased a new stake in shares of Flutter Entertainment during the third quarter worth approximately $11,517,000. TimesSquare Capital Management LLC increased its stake in shares of Flutter Entertainment by 294.1% during the third 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 during the period. AGF Management Ltd. purchased a new stake in shares of Flutter Entertainment during the third quarter worth approximately $9,519,000. Mutual of America Capital Management LLC purchased a new stake in shares of Flutter Entertainment during the third quarter worth approximately $2,173,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Flutter Entertainment during the third quarter worth approximately $169,777,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Zacks Research lowered shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Craig Hallum lowered shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research note on Wednesday, January 21st. Barclays cut their price target on shares of Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Canaccord Genuity Group cut their price target on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $167.00 price target on shares of Flutter Entertainment in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $194.23.

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.