Flutter Entertainment (NYSE:FLUT) Director Acquires $200,577.00 in Stock

Flutter Entertainment PLC (NYSE:FLUT) Director John Bryant bought 1,950 shares of the stock in a transaction dated Friday, May 8th. The shares were purchased at an average price of $102.86 per share, with a total value of $200,577.00. Following the completion of the transaction, the director directly owned 9,235 shares in the company, valued at approximately $949,912.10. The trade was a 26.77% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Flutter Entertainment Price Performance

FLUT traded up $4.03 during trading hours on Tuesday, hitting $97.99. The company’s stock had a trading volume of 937,060 shares, compared to its average volume of 3,738,396. The business’s 50-day moving average price is $106.57 and its 200-day moving average price is $163.84. Flutter Entertainment PLC has a 12 month low of $93.56 and a 12 month high of $313.68. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of -45.83, a P/E/G ratio of 0.84 and a beta of 1.58. 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 (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.59 earnings per share. Sell-side analysts expect that Flutter Entertainment PLC will post 5.14 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FLUT shares. Moffett Nathanson lowered shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price objective on the stock. in a research report on Friday, April 24th. Citigroup downgraded shares of Flutter Entertainment from a “buy” rating to a “sell” rating in a research report on Thursday, April 16th. Canaccord Genuity Group cut their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research note on Wednesday, January 21st. Finally, Oppenheimer cut their target price on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $194.23.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FLUT. Vanguard Group Inc. raised its holdings in shares of Flutter Entertainment by 1.7% in the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock worth $4,460,076,000 after buying an additional 301,879 shares during the last quarter. Capital International Investors lifted its position in Flutter Entertainment by 146.8% during the 4th 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 period. Cibc World Markets Corp acquired a new position in shares of Flutter Entertainment in the fourth quarter valued at about $1,678,841,000. Caledonia Private Investments Pty Ltd raised its stake 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 worth $1,546,538,000 after purchasing an additional 264,856 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Flutter Entertainment by 33,988.7% during the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after purchasing an additional 5,589,099 shares during the period.

About Flutter Entertainment

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.