Insider Buying: Flutter Entertainment (NYSE:FLUT) CEO Acquires $151,901.19 in Stock

Flutter Entertainment PLC (NYSE:FLUT) CEO Daniel Mark Taylor purchased 1,611 shares of the stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the acquisition, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. This represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Daniel Mark Taylor also recently made the following trade(s):

• On Monday, May 11th, Daniel Mark Taylor purchased 1,013 shares of Flutter Entertainment stock. The shares were purchased at an average cost of $98.41 per share, for a total transaction of $99,689.33.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $92.44 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. Flutter Entertainment PLC has a 1-year low of $91.52 and a 1-year high of $313.68. The company has a market capitalization of $16.08 billion, a P/E ratio of -43.19, a P/E/G ratio of 1.18 and a beta of 1.58. The firm’s 50 day simple moving average is $105.39 and its two-hundred day simple moving average is $160.11.

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 negative net margin of 2.20% and a positive return on equity of 11.60%. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm earned $1.59 earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Research analysts expect that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Flutter Entertainment in the second quarter worth $405,000. Creative Planning bought a new stake in Flutter Entertainment in the second quarter worth $296,000. Northwestern Mutual Wealth Management Co. increased its position in Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after purchasing an additional 133 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Flutter Entertainment by 74.6% in the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after purchasing an additional 106 shares during the last quarter.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several research analyst reports. Oppenheimer lowered their target price on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Susquehanna lowered their target price on shares of Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating on the stock in a report on Tuesday, March 31st. Citizens Jmp lowered 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. BNP Paribas Exane initiated coverage on shares of Flutter Entertainment in a report on Thursday. They issued an “underperform” rating and a $80.00 target price on the stock. Finally, Barclays lowered their target price on shares of Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. 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 given a Sell rating to the stock. According to MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $189.26.

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.