Flutter Entertainment (NYSE:FLUT) Director Carolan Lennon Purchases 520 Shares

Flutter Entertainment PLC (NYSE:FLUT) Director Carolan Lennon bought 520 shares of the stock in a transaction dated Tuesday, May 12th. The stock was bought at an average price of $92.30 per share, for a total transaction of $47,996.00. Following the purchase, the director directly owned 2,127 shares of the company’s stock, valued at approximately $196,322.10. The trade was a 32.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $95.02 on Thursday. The company has a market capitalization of $16.53 billion, a P/E ratio of -44.40, a P/E/G ratio of 1.21 and a beta of 1.58. The business’s 50 day moving average is $106.15 and its two-hundred day moving average is $161.64. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 12-month low of $92.22 and a 12-month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion for 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%.Flutter Entertainment’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.59 earnings per share. Analysts expect that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Flutter Entertainment by 1.7% during the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock valued at $4,460,076,000 after acquiring an additional 301,879 shares during the last quarter. Capital International Investors raised its holdings in shares of Flutter Entertainment by 146.8% during the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after acquiring an additional 4,782,302 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of Flutter Entertainment in the fourth quarter valued at approximately $1,678,841,000. Caledonia Private Investments Pty Ltd increased its holdings in shares of Flutter Entertainment by 3.8% in the fourth 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 increased its holdings in shares of Flutter Entertainment by 33,988.7% in the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after purchasing an additional 5,589,099 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Benchmark lowered their price target on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Susquehanna lowered their price target on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating on the stock in a research report on Tuesday, March 31st. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a research report on Friday, April 24th. Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, Sanford C. Bernstein lowered their price target on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.23.

Key Headlines Impacting Flutter Entertainment

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: CEO Daniel Mark Taylor bought 1,013 shares at $98.41, adding to a series of recent insider purchases that can signal management confidence after the stock’s sharp pullback. Article title
• Positive Sentiment: Additional insider buying from the CEO, COO, and directors suggests several top executives see value at current levels, which may help support sentiment. Article title
• Neutral Sentiment: Flutter’s latest earnings beat expectations on both EPS and revenue, and the company has an active $250 million buyback program, but those positives are being offset by caution about future U.S. profitability. Article title
• Neutral Sentiment: Several analysts have cut price targets while still keeping buy or outperform ratings, indicating the stock may be viewed as undervalued but still facing execution risk. Article title
• Negative Sentiment: Citi warned that Flutter’s U.S. profit targets may be too ambitious, and consensus estimates for U.S. EBITDA remain under pressure after the company’s recent guidance update. Article title
• Negative Sentiment: Reports highlighting FanDuel performance concerns and a leadership shake-up have weighed on investor confidence and helped drive the recent selloff in FLUT. Article title

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.