Insider Selling: Flutter Entertainment (NYSE:FLUT) CEO Sells $197,091.84 in Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total value of $197,091.84. Following the completion of the transaction, the chief executive officer owned 72,214 shares of the company’s stock, valued at approximately $6,739,010.48. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Performance

FLUT opened at $99.33 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. Flutter Entertainment PLC has a 12-month low of $89.71 and a 12-month high of $309.41. The firm has a 50 day moving average of $103.36 and a two-hundred day moving average of $108.63. The firm has a market capitalization of $17.24 billion, a PE ratio of -23.10, a P/E/G ratio of 2.35 and a beta of 1.28.

Flutter Entertainment (NYSE:FLUT) last posted 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). The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.95 earnings per share. On average, analysts anticipate that Flutter Entertainment PLC will post 3.48 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on FLUT shares. Benchmark dropped their price target on shares of Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. assumed coverage on shares of Flutter Entertainment in a report on Wednesday, August 12th. They issued a “neutral” rating and a $114.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating for the company in a research report on Thursday, August 6th. Needham & Company LLC lowered their price target on Flutter Entertainment from $135.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price objective for the company. in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.12.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after acquiring an additional 69 shares during the period. Sivia Capital Partners LLC purchased a new stake in Flutter Entertainment in the second quarter valued at approximately $405,000. Creative Planning acquired a new position in Flutter Entertainment during the second quarter worth $296,000. Northwestern Mutual Wealth Management Co. lifted its stake in Flutter Entertainment by 246.3% during 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 boosted its position in shares of Flutter Entertainment by 74.6% during the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after buying an additional 106 shares during the period.

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.