Robert Coldrake Sells 710 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment PLC (NYSE:FLUT) CFO Robert Coldrake sold 710 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $69,480.60. Following the sale, the chief financial officer owned 22,778 shares in the company, valued at approximately $2,229,055.08. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Performance

FLUT traded down $0.05 during trading on Thursday, reaching $101.93. 673,628 shares of the company’s stock were exchanged, compared to its average volume of 3,350,201. Flutter Entertainment PLC has a fifty-two week low of $89.71 and a fifty-two week high of $297.23. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.32. The business has a 50 day moving average price of $102.61 and a 200 day moving average price of $104.92. The company has a market capitalization of $17.69 billion, a P/E ratio of -23.68, a PEG ratio of 2.46 and a beta of 1.26.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.05). The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $2.95 EPS. As a group, analysts predict that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on FLUT. Wells Fargo & Company lowered their price objective on Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 6th. Citizens Jmp decreased their price target 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. Jefferies Financial Group reiterated a “buy” rating and issued a $180.00 price target on shares of Flutter Entertainment in a research report on Sunday, August 9th. Needham & Company LLC dropped their price objective on Flutter Entertainment from $135.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. initiated coverage on Flutter Entertainment in a research note on Wednesday, August 12th. They set a “neutral” rating and a $114.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment presently has an average rating of “Moderate Buy” and an average target price of $156.88.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FLUT. Parvus Asset Management Jersey Ltd bought a new stake in Flutter Entertainment during the 2nd quarter worth approximately $1,552,097,267. Capital International Investors increased its holdings in Flutter Entertainment by 146.8% during the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after purchasing an additional 4,782,302 shares in the last quarter. Cibc World Markets Corp bought a new position in Flutter Entertainment in the 4th quarter valued at $1,678,841,000. Caledonia Private Investments Pty Ltd raised its position in Flutter Entertainment by 3.8% in the 4th quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after purchasing an additional 264,856 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Flutter Entertainment by 33,988.7% in the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after purchasing an additional 5,589,099 shares in the last quarter.

Flutter Entertainment Company Profile

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.