Flutter Entertainment (NYSE:FLUT) Insider Don Liu Sells 1,259 Shares

Flutter Entertainment PLC (NYSE:FLUT) insider Don Liu sold 1,259 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total transaction of $117,552.83. Following the completion of the transaction, the insider directly owned 21,006 shares in the company, valued at approximately $1,961,330.22. This represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $93.70 on Friday. 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’s 50-day moving average price is $105.79 and its 200-day moving average price 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 market cap of $16.30 billion, a P/E ratio of -43.78, a P/E/G ratio of 1.19 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. Flutter Entertainment’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, sell-side analysts forecast that Flutter Entertainment PLC will post 5.14 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has approved a share repurchase program on Wednesday, March 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FLUT. Cibc World Markets Corp acquired a new position in shares of Flutter Entertainment in the fourth quarter valued at approximately $1,678,841,000. Hsbc Holdings PLC lifted its stake in Flutter Entertainment by 33,988.7% in the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after acquiring an additional 5,589,099 shares during the last quarter. Capital International Investors lifted its stake in Flutter Entertainment by 146.8% in the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after acquiring an additional 4,782,302 shares during the last quarter. Norges Bank purchased a new position in Flutter Entertainment in the fourth quarter worth approximately $694,009,000. Finally, Durable Capital Partners LP lifted its stake in Flutter Entertainment by 274.2% in the third quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company’s stock worth $315,973,000 after acquiring an additional 911,507 shares during the last quarter.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of analyst reports. Needham & Company LLC reduced their target price on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. UBS Group reduced their target price 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. Citizens Jmp reduced their target price on shares of Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 7th. BNP Paribas Exane assumed coverage on shares of Flutter Entertainment in a research report on Thursday. They set an “underperform” rating and a $80.00 price target for the company. Finally, Benchmark dropped their price target on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.