Flutter Entertainment (NYSE:FLUT) CEO Sells $302,632.92 in Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Jeremy Peter Jackson sold 3,084 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the sale, the chief executive officer directly owned 74,326 shares in the company, valued at approximately $7,293,610.38. The trade was a 3.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jeremy Peter Jackson also recently made the following trade(s):

• On Friday, May 8th, Jeremy Peter Jackson bought 2,400 shares of Flutter Entertainment stock. The stock was acquired at an average cost of $101.94 per share, for a total transaction of $244,656.00.
• On Wednesday, March 11th, Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock. The shares were sold at an average price of $108.00, for a total transaction of $467,208.00.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $93.70 on Friday. The stock has a market cap of $16.30 billion, a P/E ratio of -43.78, a PEG ratio of 1.19 and a beta of 1.58. The company’s 50-day simple moving average is $105.79 and its 200 day simple moving average is $160.59. Flutter Entertainment PLC has a twelve month low of $92.02 and a twelve month high of $313.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 earnings per share. As a group, research analysts forecast that Flutter Entertainment PLC will post 5.14 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has authorized a share buyback plan on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Several large investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Flutter Entertainment in the first quarter valued at approximately $1,499,000. Renaissance Technologies LLC bought a new stake in Flutter Entertainment in the first quarter valued at approximately $40,562,000. Gabelli Funds LLC increased its stake in Flutter Entertainment by 50.3% in the first quarter. Gabelli Funds LLC now owns 12,400 shares of the company’s stock valued at $1,264,000 after purchasing an additional 4,150 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Flutter Entertainment by 9.5% in the first quarter. Public Employees Retirement System of Ohio now owns 89,704 shares of the company’s stock valued at $9,145,000 after purchasing an additional 7,790 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Flutter Entertainment by 286.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 52,805 shares of the company’s stock valued at $5,383,000 after purchasing an additional 39,133 shares in the last quarter.

Flutter Entertainment News Roundup

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

• Positive Sentiment: CEO Daniel Mark Taylor and director Carolan Lennon bought shares this week, adding to a cluster of insider purchases that can signal management believes FLUT is undervalued after its sharp selloff. Article title
• Positive Sentiment: Several articles highlighted that analysts still broadly rate Flutter a buy or outperform name, with some pointing to meaningful upside if FanDuel recovery continues and the company executes on its buyback program. Article title
• Positive Sentiment: Flutter’s board has also been using its $250 million repurchase authorization, and recent share cancellations reinforce the company’s capital-return story. Article title
• Neutral Sentiment: One report framed Flutter as affected by broader NYSE Composite sentiment, which is more of a market-wide backdrop than a company-specific catalyst. Article title
• Neutral Sentiment: Coverage of a management reshuffle is drawing attention to CEO Peter Jackson, but the leadership review is still a process story rather than a clear operating update. Article title
• Negative Sentiment: Investors remain focused on the post-earnings selloff, which was tied to a Q1 miss, concern that U.S. profit targets may be too ambitious, and worries about FanDuel performance. Article title
• Negative Sentiment: Reporting that BlackRock bought more Flutter shares raised the possibility of a London delisting, adding another layer of uncertainty around the company’s structure and future market access. Article title

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FLUT shares. Canaccord Genuity Group reduced their target price on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Susquehanna cut their price objective on shares of Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating on the stock in a report on Tuesday, March 31st. UBS Group cut their price objective on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $167.00 price objective on shares of Flutter Entertainment in a report on Friday, May 8th. Finally, Benchmark cut their price objective on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $189.26.

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.