Robert Coldrake Sells 4,613 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment PLC (NYSE:FLUT) CFO Robert Coldrake sold 4,613 shares of Flutter Entertainment stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total value of $491,053.85. Following the sale, the chief financial officer owned 10,006 shares in the company, valued at $1,065,138.70. This trade represents a 31.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Flutter Entertainment Stock Performance

NYSE:FLUT traded up $3.12 during trading on Friday, reaching $108.65. The company’s stock had a trading volume of 236,053 shares, compared to its average volume of 4,293,213. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of -60.35, a price-to-earnings-growth ratio of 0.75 and a beta of 2.30. Flutter Entertainment PLC has a 12 month low of $99.96 and a 12 month high of $313.68. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average of $154.69 and a 200-day moving average of $212.34.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the business posted $2.94 EPS. The business’s quarterly revenue was up 24.9% on a year-over-year basis. Research analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its board has initiated a share 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 typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FLUT. Bank of America decreased their price objective on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. Citizens Jmp lowered their price target on Flutter Entertainment from $275.00 to $195.00 and set a “market outperform” rating on the stock in a report on Friday, February 27th. Benchmark cut their price objective on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Barclays decreased their price objective on shares of Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.65.

Hedge Funds Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the business. Axxcess Wealth Management LLC lifted its stake in Flutter Entertainment by 19.2% in the fourth quarter. Axxcess Wealth Management LLC now owns 3,085 shares of the company’s stock worth $663,000 after purchasing an additional 497 shares during the last quarter. Vident Advisory LLC lifted its stake in shares of Flutter Entertainment by 10.4% in the 4th quarter. Vident Advisory LLC now owns 1,608 shares of the company’s stock valued at $346,000 after acquiring an additional 152 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Flutter Entertainment by 7.9% during the 4th quarter. Mackenzie Financial Corp now owns 12,620 shares of the company’s stock valued at $2,739,000 after acquiring an additional 919 shares during the period. NewEdge Advisors LLC grew its position in Flutter Entertainment by 22.4% during the 4th quarter. NewEdge Advisors LLC now owns 753 shares of the company’s stock worth $162,000 after acquiring an additional 138 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Flutter Entertainment by 90.0% during the 4th quarter. XTX Topco Ltd now owns 20,607 shares of the company’s stock worth $4,431,000 after acquiring an additional 9,762 shares during the last quarter.

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.