Flutter Entertainment (NYSE:FLUT) Reaches New 12-Month Low on Insider Selling

Flutter Entertainment PLC (NYSE:FLUT) reached a new 52-week low during trading on Tuesday following insider selling activity. The stock traded as low as $93.58 and last traded at $94.0140, with a volume of 4551171 shares traded. The stock had previously closed at $101.19.

Specifically, CEO Jeremy Peter Jackson sold 3,084 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $98.13, for a total transaction of $302,632.92. Following the sale, the chief executive officer directly owned 74,326 shares of the company’s stock, valued at $7,293,610.38. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FLUT. Truist Financial reduced their price objective on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Moffett Nathanson lowered shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target for the company. in a research report on Friday, April 24th. Zacks Research downgraded shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. BTIG Research cut their target price on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, UBS Group reduced their target price on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. 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 four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $189.26.

More Flutter Entertainment News

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

• Positive Sentiment: CEO Daniel Mark Taylor bought 1,013 shares at $98.41, adding to a series of recent insider purchases that can signal management confidence after the stock’s sharp pullback. Article title
• Positive Sentiment: Additional insider buying from the CEO, COO, and directors suggests several top executives see value at current levels, which may help support sentiment. Article title
• Neutral Sentiment: Flutter’s latest earnings beat expectations on both EPS and revenue, and the company has an active $250 million buyback program, but those positives are being offset by caution about future U.S. profitability. Article title
• Neutral Sentiment: Several analysts have cut price targets while still keeping buy or outperform ratings, indicating the stock may be viewed as undervalued but still facing execution risk. Article title
• Negative Sentiment: Citi warned that Flutter’s U.S. profit targets may be too ambitious, and consensus estimates for U.S. EBITDA remain under pressure after the company’s recent guidance update. Article title
• Negative Sentiment: Reports highlighting FanDuel performance concerns and a leadership shake-up have weighed on investor confidence and helped drive the recent selloff in FLUT. Article title

Flutter Entertainment Trading Down 0.8%

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The firm has a market cap of $16.40 billion, a P/E ratio of -44.13, a P/E/G ratio of 1.21 and a beta of 1.58. The stock has a 50 day simple moving average of $106.15 and a 200-day simple moving average of $161.64.

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

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

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its stake in shares of Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. JFS Wealth Advisors LLC bought a new position in shares of Flutter Entertainment during the third quarter valued at approximately $27,000. Zions Bancorporation National Association UT grew its stake in shares of Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after buying an additional 118 shares during the last quarter. JCIC Asset Management Inc. purchased a new stake in shares of Flutter Entertainment in the third quarter worth approximately $32,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Flutter Entertainment during the 3rd quarter worth approximately $34,000.

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.