Insider Buying: Flutter Entertainment (NYSE:FLUT) CEO Acquires $244,656.00 in Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Jeremy Peter Jackson purchased 2,400 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was bought at an average cost of $101.94 per share, with a total value of $244,656.00. Following the completion of the acquisition, the chief executive officer directly owned 70,872 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through 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 value 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 value of $467,208.00.

Flutter Entertainment Trading Down 1.4%

Shares of FLUT stock opened at $93.70 on Friday. 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 company has a market cap of $16.30 billion, a price-to-earnings ratio of -43.78, a PEG ratio of 1.19 and a beta of 1.58. The stock has a 50 day simple moving average of $105.79 and a 200-day simple moving average of $160.59. Flutter Entertainment PLC has a 1-year low of $92.02 and a 1-year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its 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 business had revenue of $4.30 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 EPS. On average, equities research analysts expect that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback program on Wednesday, March 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Key Headlines Impacting Flutter Entertainment

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

• Positive Sentiment: CEO Daniel Mark Taylor and director Carolan Lennon bought shares this week, adding to a cluster of insider purchases that can signal management believes FLUT is undervalued after its sharp selloff. Article title
• Positive Sentiment: Several articles highlighted that analysts still broadly rate Flutter a buy or outperform name, with some pointing to meaningful upside if FanDuel recovery continues and the company executes on its buyback program. Article title
• Positive Sentiment: Flutter’s board has also been using its $250 million repurchase authorization, and recent share cancellations reinforce the company’s capital-return story. Article title
• Neutral Sentiment: One report framed Flutter as affected by broader NYSE Composite sentiment, which is more of a market-wide backdrop than a company-specific catalyst. Article title
• Neutral Sentiment: Coverage of a management reshuffle is drawing attention to CEO Peter Jackson, but the leadership review is still a process story rather than a clear operating update. Article title
• Negative Sentiment: Investors remain focused on the post-earnings selloff, which was tied to a Q1 miss, concern that U.S. profit targets may be too ambitious, and worries about FanDuel performance. Article title
• Negative Sentiment: Reporting that BlackRock bought more Flutter shares raised the possibility of a London delisting, adding another layer of uncertainty around the company’s structure and future market access. Article title

Wall Street Analyst Weigh In

FLUT has been the subject of several research analyst reports. Barclays reduced their target price on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Citigroup downgraded Flutter Entertainment from a “buy” rating to a “sell” rating in a research note on Thursday, April 16th. BTIG Research dropped their price target on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Citizens Jmp dropped their price target on Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. Finally, Stifel Nicolaus dropped their price target on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $189.26.

Institutional Trading of Flutter Entertainment

Large investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew its holdings in Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. JFS Wealth Advisors LLC purchased a new stake in Flutter Entertainment in the 3rd quarter valued at $27,000. Zions Bancorporation National Association UT grew its holdings in Flutter Entertainment by 1,685.7% in the 4th 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 in the last quarter. JCIC Asset Management Inc. purchased a new stake in Flutter Entertainment in the 3rd quarter valued at $32,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Flutter Entertainment in the 3rd quarter valued at $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.