Flutter Entertainment (NYSE:FLUT) COO James Philip Bishop Purchases 1,000 Shares

Flutter Entertainment PLC (NYSE:FLUT) COO James Philip Bishop bought 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $99.75 per share, for a total transaction of $99,750.00. Following the transaction, the chief operating officer directly owned 17,605 shares of the company’s stock, valued at $1,756,098.75. The trade was a 6.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Flutter Entertainment Stock Performance

FLUT traded up $4.03 during trading on Tuesday, hitting $97.99. The stock had a trading volume of 937,060 shares, compared to its average volume of 3,738,396. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The company has a 50 day moving average price of $106.57 and a 200-day moving average price of $163.84. Flutter Entertainment PLC has a one year low of $93.56 and a one year high of $313.68. The firm has a market cap of $17.05 billion, a price-to-earnings ratio of -45.83, a P/E/G ratio of 0.84 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 positive return on equity of 11.60% and a negative net margin of 2.20%.The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 earnings per share. As a group, research analysts predict that Flutter Entertainment PLC will post 5.14 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Flutter Entertainment in the second quarter worth $405,000. Creative Planning acquired a new stake in shares of Flutter Entertainment in the 2nd quarter valued at about $296,000. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 during the period. Finally, EverSource Wealth Advisors LLC lifted 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 valued at $71,000 after buying an additional 106 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently commented on FLUT. Citigroup cut shares of Flutter Entertainment from a “buy” rating to a “sell” rating in a report on Thursday, April 16th. Canaccord Genuity Group lowered their price objective on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Bank of America cut their target price on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $167.00 target price on shares of Flutter Entertainment in a report on Friday. Finally, Barclays dropped their price target on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $194.23.

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.