Flutter Entertainment (NYSE:FLUT) Sets New 1-Year Low on Insider Selling

Shares of Flutter Entertainment PLC (NYSE:FLUT) hit a new 52-week low during trading on Tuesday following insider selling activity. The stock traded as low as $93.58 and last traded at $94.0140, with a volume of 4551171 shares traded. The stock had previously closed at $101.19.

Specifically, CEO Jeremy Peter Jackson sold 3,084 shares of the business’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 transaction, the chief executive officer owned 74,326 shares in the company, valued at $7,293,610.38. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FLUT shares. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price on the stock. in a report on Friday, April 24th. Citizens Jmp reduced their price target on 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. Craig Hallum downgraded 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. Wells Fargo & Company lowered their price objective on Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Finally, 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 report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $189.26.

Trending Headlines about 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 Stock Down 0.7%

The firm has a market capitalization of $16.41 billion, a P/E ratio of -44.21, a P/E/G ratio of 1.21 and a beta of 1.58. The company has a fifty day simple moving average of $106.15 and a 200 day simple moving average of $161.64. 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 issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share 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 the consensus estimate of $4.24 billion. During the same period last year, the company earned $1.59 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. On average, equities analysts expect that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized a stock buyback plan on Wednesday, March 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MML Investors Services LLC lifted its holdings in shares of Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after purchasing an additional 45 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in Flutter Entertainment by 1.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after buying an additional 49 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Flutter Entertainment by 5.6% during the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after acquiring an additional 50 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Flutter Entertainment by 5.7% in the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after acquiring an additional 58 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 valued at $290,000 after purchasing an additional 69 shares during 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.