Amy Howe Sells 8,895 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Amy Howe sold 8,895 shares of Flutter Entertainment stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total value of $942,069.45. Following the completion of the sale, the chief executive officer directly owned 78,889 shares of the company’s stock, valued at approximately $8,355,133.99. The trade was a 10.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Flutter Entertainment Stock Performance

NYSE FLUT traded up $3.12 during trading hours on Friday, hitting $108.65. The company’s stock had a trading volume of 236,053 shares, compared to its average volume of 4,293,213. Flutter Entertainment PLC has a 12 month low of $99.96 and a 12 month high of $313.68. The company’s 50 day simple moving average is $154.69 and its two-hundred day simple moving average is $212.34. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $19.05 billion, a P/E ratio of -60.35, a price-to-earnings-growth ratio of 0.75 and a beta of 2.30.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. Flutter Entertainment’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.94 earnings per share. As a group, sell-side analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its board has initiated a stock repurchase program on Wednesday, March 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of FLUT. ORG Partners LLC grew its position in Flutter Entertainment by 43.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 43 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of 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 buying an additional 45 shares during the period. OneDigital Investment Advisors LLC lifted its stake in shares of 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 buying an additional 49 shares during the period. Versant Capital Management Inc grew its holdings in shares of Flutter Entertainment by 5.6% during the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after buying an additional 50 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Flutter Entertainment by 5.7% during the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock valued at $273,000 after buying an additional 58 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a report on Monday, January 5th. Texas Capital upgraded shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. Morgan Stanley decreased their price target on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Craig Hallum downgraded shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, January 21st. Finally, BTIG Research decreased their target price on Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.65.

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.