Jeremy Peter Jackson Sells 1,762 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Jeremy Peter Jackson sold 1,762 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $172,429.32. Following the completion of the sale, the chief executive officer directly owned 70,452 shares in the company, valued at approximately $6,894,432.72. The trade was a 2.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 Wednesday, August 19th, Jeremy Peter Jackson sold 2,112 shares of Flutter Entertainment stock. The shares were sold at an average price of $93.32, for a total transaction of $197,091.84.

Flutter Entertainment Trading Down 0.0%

Shares of FLUT stock traded down $0.05 during trading hours on Thursday, hitting $101.93. 673,628 shares of the company were exchanged, compared to its average volume of 3,350,201. The firm has a fifty day moving average of $102.61 and a 200 day moving average of $104.92. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.32. Flutter Entertainment PLC has a 1 year low of $89.71 and a 1 year high of $297.23. The firm has a market cap of $17.69 billion, a PE ratio of -23.68, a PEG ratio of 2.46 and a beta of 1.26.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. Flutter Entertainment’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts expect that Flutter Entertainment PLC will post 3.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FLUT. Zions Bancorporation National Association UT raised its holdings in shares of Flutter Entertainment by 1,685.7% during 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 during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Flutter Entertainment by 83.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after acquiring an additional 75 shares in the last quarter. EFG International AG purchased a new position in Flutter Entertainment in the 4th quarter worth approximately $36,000. IFP Advisors Inc boosted its holdings in Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after acquiring an additional 90 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after acquiring an additional 133 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group reduced their target price on Flutter Entertainment from $160.00 to $140.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Jefferies Financial Group restated a “buy” rating and issued a $180.00 price objective on shares of Flutter Entertainment in a report on Sunday, August 9th. Citizens Jmp reduced their price objective on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 8th. Truist Financial decreased their target price on Flutter Entertainment from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Flutter Entertainment in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.88.

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.