Flutter Entertainment (NYSE:FLUT) CFO Robert Coldrake Sells 129 Shares

Flutter Entertainment PLC (NYSE:FLUT) CFO Robert Coldrake sold 129 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $101.40, for a total transaction of $13,080.60. Following the completion of the sale, the chief financial officer directly owned 23,488 shares of the company’s stock, valued at approximately $2,381,683.20. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Robert Coldrake also recently made the following trade(s):

• On Wednesday, March 11th, Robert Coldrake sold 4,613 shares of Flutter Entertainment stock. The shares were sold at an average price of $106.45, for a total transaction of $491,053.85.

Flutter Entertainment Stock Performance

FLUT stock traded up $4.03 during trading on Tuesday, reaching $97.99. 937,060 shares of the stock were exchanged, compared to its average volume of 3,738,396. Flutter Entertainment PLC has a twelve month low of $93.56 and a twelve month high of $313.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $17.05 billion, a P/E ratio of -45.83, a price-to-earnings-growth ratio of 0.84 and a beta of 1.58. The stock has a 50 day simple moving average of $106.57 and a 200-day simple moving average of $163.84.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly 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. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Flutter Entertainment PLC will post 5.14 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of recent research reports. UBS Group decreased their price target on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. 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. Oppenheimer decreased their target price on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Bank of America lowered their target price on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $167.00 price target on shares of Flutter Entertainment in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $194.23.

Hedge Funds Weigh In On Flutter Entertainment

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 valued at $290,000 after buying an additional 69 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Flutter Entertainment in the second quarter valued at approximately $405,000. Creative Planning bought a new position in shares of Flutter Entertainment in the second quarter valued at approximately $296,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after acquiring an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Flutter Entertainment by 74.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after acquiring an additional 106 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.