Flutter Entertainment (NYSE:FLUT) Insider Purchases $149,956.02 in Stock

Flutter Entertainment PLC (NYSE:FLUT) insider Don Liu bought 1,459 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $102.78 per share, for a total transaction of $149,956.02. Following the acquisition, the insider directly owned 22,265 shares of the company’s stock, valued at $2,288,396.70. This represents a 7.01% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Flutter Entertainment Stock Performance

FLUT opened at $93.70 on Friday. Flutter Entertainment PLC has a 52-week low of $92.02 and a 52-week high of $313.68. The firm has a market capitalization of $16.30 billion, a PE ratio of -43.78, a PEG ratio of 1.19 and a beta of 1.58. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50-day simple moving average is $105.79 and its 200 day simple moving average is $160.59.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. Flutter Entertainment’s revenue was up 17.4% on a year-over-year basis. As a group, 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 has initiated a stock repurchase program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FLUT. Wells Fargo & Company dropped their target price on shares of Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Craig Hallum cut shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price on the stock. in a report on Wednesday, January 21st. Moffett Nathanson cut shares of 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. Bank of America dropped their target price on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Finally, Citizens Jmp dropped 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 report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.26.

Key Flutter Entertainment News

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

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.