Insider Selling: Flutter Entertainment (NYSE:FLUT) Director Sells 135 Shares of Stock

Flutter Entertainment PLC (NYSE:FLUT) Director Holly Koeppel sold 135 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $94.63, for a total transaction of $12,775.05. Following the sale, the director owned 3,259 shares in the company, valued at $308,399.17. This represents a 3.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Trading Up 1.7%

Shares of FLUT stock traded up $1.63 during trading hours on Friday, reaching $97.21. 702,578 shares of the stock traded hands, compared to its average volume of 3,583,695. Flutter Entertainment PLC has a 1-year low of $91.52 and a 1-year high of $313.68. The business has a fifty day moving average price of $103.06 and a 200 day moving average price of $151.21. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $16.91 billion, a PE ratio of -45.30, a PEG ratio of 1.27 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts forecast that Flutter Entertainment PLC will post 4.88 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a share repurchase plan on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

Several large investors have recently added to or reduced their stakes in FLUT. MML Investors Services LLC boosted its holdings in Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after purchasing an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in Flutter Entertainment by 1.2% during the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after purchasing an additional 49 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Flutter Entertainment by 5.7% during the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after purchasing an additional 58 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Flutter Entertainment by 2.8% during the fourth quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock worth $560,000 after purchasing an additional 72 shares during the last quarter.

Wall Street Analyst Weigh In

FLUT has been the topic of several research reports. Needham & Company LLC dropped their price objective on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a research note 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 objective on the stock. in a research note on Friday, April 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday. BTIG Research dropped their price objective on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $189.26.

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.