Flutter Entertainment (NYSE:FLUT) CEO Daniel Mark Taylor Buys 1,611 Shares of Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Daniel Mark Taylor acquired 1,611 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the completion of the purchase, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. This represents a 4.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Daniel Mark Taylor also recently made the following trade(s):

• On Monday, May 11th, Daniel Mark Taylor bought 1,013 shares of Flutter Entertainment stock. The stock was purchased at an average price of $98.41 per share, with a total value of $99,689.33.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $95.02 on Thursday. The firm has a 50-day moving average of $106.15 and a 200-day moving average of $161.64. The company has a market cap of $16.53 billion, a P/E ratio of -44.40, a P/E/G ratio of 1.21 and a beta of 1.58. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. Flutter Entertainment PLC has a one year low of $92.22 and a one year high of $313.68.

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

Flutter Entertainment announced that its Board of Directors has approved a stock buyback plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

FLUT has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price objective on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Benchmark decreased their price objective on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Citizens Jmp decreased their price objective on shares of Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating for the company in a report on Thursday, May 7th. Kepler Capital Markets downgraded shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Finally, BNP Paribas Exane initiated coverage on shares of Flutter Entertainment in a report on Thursday. They set an “underperform” rating for the company. Two 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 assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $194.23.

Hedge Funds Weigh In On Flutter Entertainment

Several large investors have recently modified their holdings of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Flutter Entertainment by 5.6% in 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 in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Flutter Entertainment in the second quarter worth about $405,000. Creative Planning purchased a new position in shares of Flutter Entertainment in the second quarter worth about $296,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after purchasing an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Flutter Entertainment by 74.6% in the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after purchasing an additional 106 shares in the last quarter.

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.