Insider Selling: Flutter Entertainment (NYSE:FLUT) CFO Sells $81,598.94 in Stock

Flutter Entertainment PLC (NYSE:FLUT) CFO Robert Coldrake sold 991 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $82.34, for a total value of $81,598.94. Following the completion of the sale, the chief financial officer owned 23,888 shares in the company, valued at approximately $1,966,937.92. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Robert Coldrake also recently made the following trade(s):

• On Tuesday, September 1st, Robert Coldrake sold 710 shares of Flutter Entertainment stock. The stock was sold at an average price of $97.86, for a total value of $69,480.60.

Flutter Entertainment Trading Up 3.1%

NYSE:FLUT opened at $85.10 on Thursday. The stock has a fifty day moving average price of $84.47 and a two-hundred day moving average price of $103.45. The stock has a market capitalization of $14.80 billion, a price-to-earnings ratio of -16.09 and a beta of 1.27. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.91 and a current ratio of 0.91. Flutter Entertainment PLC has a 1 year low of $72.56 and a 1 year high of $235.77.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, November 4th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.50). The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.99 billion. Flutter Entertainment had a negative net margin of 5.37% and a positive return on equity of 4.38%. Flutter Entertainment’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.64 EPS. As a group, sell-side analysts anticipate that Flutter Entertainment PLC will post 3.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds have recently made changes to their positions in the business. WGI DM LLC lifted its position in Flutter Entertainment by 102.2% during the third quarter. WGI DM LLC now owns 961,047 shares of the company’s stock worth $71,636,000 after buying an additional 485,678 shares during the period. Voya Investment Management LLC grew its holdings in Flutter Entertainment by 6.2% in the 3rd quarter. Voya Investment Management LLC now owns 11,505 shares of the company’s stock valued at $858,000 after buying an additional 668 shares during the period. Bessemer Group Inc. grew its holdings in Flutter Entertainment by 228.7% in the 3rd quarter. Bessemer Group Inc. now owns 1,433 shares of the company’s stock valued at $108,000 after buying an additional 997 shares during the period. Ground Swell Capital LLC acquired a new position in shares of Flutter Entertainment during the 3rd quarter valued at about $250,000. Finally, Danske Bank A S increased its stake in shares of Flutter Entertainment by 96.2% during the 3rd quarter. Danske Bank A S now owns 141,323 shares of the company’s stock valued at $10,534,000 after acquiring an additional 69,300 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FLUT shares. Craig Hallum set a $95.00 target price on shares of Flutter Entertainment in a report on Friday, October 23rd. Needham & Company LLC reduced their price target on shares of Flutter Entertainment from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. New Street Research set a $110.00 price target on Flutter Entertainment in a report on Thursday, September 3rd. Citigroup raised Flutter Entertainment from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $93.00 to $91.00 in a research note on Wednesday, October 7th. Finally, Moffett Nathanson reaffirmed a “neutral” rating and issued a $92.00 price objective on shares of Flutter Entertainment in a research note on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.75.

Flutter Entertainment Company Profile

Flutter Entertainment is a global sports betting and gaming company that provides online and retail wagering, casino gaming and poker services. Its brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sportsbet in Australia, and PokerStars in international markets. The company serves customers across the United States, the United Kingdom and Ireland, Australia, and other international markets. Its offerings include online sports betting, iGaming products such as casino games, poker platforms, and, in some markets, betting shops.