Insider Selling: Flutter Entertainment (NYSE:FLUT) Insider Sells $117,552.83 in Stock

Flutter Entertainment PLC (NYSE:FLUT) insider Don Liu sold 1,259 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total transaction of $117,552.83. Following the sale, the insider directly owned 21,006 shares of the company’s stock, valued at $1,961,330.22. The trade was a 5.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Price Performance

NYSE FLUT opened at $92.44 on Friday. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68. The firm has a market capitalization of $16.08 billion, a P/E ratio of -43.19, a PEG ratio of 1.16 and a beta of 1.58. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average price of $105.39 and a 200-day moving average price of $160.11.

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. The company 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%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.59 EPS. Equities research analysts anticipate that Flutter Entertainment PLC will post 4.88 earnings per share for the current year.

Flutter Entertainment announced that its board has initiated a stock buyback program on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in Flutter Entertainment by 3.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 9,447 shares of the company’s stock valued at $963,000 after buying an additional 328 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Flutter Entertainment by 333.4% during the 1st quarter. Quantinno Capital Management LP now owns 79,271 shares of the company’s stock valued at $8,082,000 after buying an additional 60,981 shares in the last quarter. SummitTX Capital L.P. grew its holdings in Flutter Entertainment by 97.4% during the 1st quarter. SummitTX Capital L.P. now owns 6,018 shares of the company’s stock valued at $614,000 after buying an additional 2,969 shares in the last quarter. Delta Global Management LP purchased a new stake in Flutter Entertainment during the 1st quarter valued at approximately $1,461,000. Finally, OMERS ADMINISTRATION Corp grew its holdings in Flutter Entertainment by 28.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 8,184 shares of the company’s stock valued at $834,000 after buying an additional 1,800 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on FLUT. Benchmark reduced their target price on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Stifel Nicolaus reduced their target price on shares of Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Craig Hallum lowered shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a report on Wednesday, January 21st. Citizens Jmp reduced their target price on shares of Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating for the company in a report on Thursday, May 7th. Finally, Citigroup lowered shares of Flutter Entertainment from a “buy” rating to a “sell” rating in a report on Thursday, April 16th. 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 an average rating of “Moderate Buy” and a consensus price target of $189.26.

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.