Insider Selling: Flutter Entertainment (NYSE:FLUT) CFO Sells 4,613 Shares of Stock

Flutter Entertainment PLC (NYSE:FLUT) CFO Robert Coldrake sold 4,613 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total transaction of $491,053.85. Following the completion of the transaction, the chief financial officer owned 10,006 shares in the company, valued at $1,065,138.70. This represents a 31.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Flutter Entertainment Trading Up 3.0%

NYSE:FLUT traded up $3.12 during midday trading on Friday, reaching $108.65. 236,053 shares of the stock traded hands, compared to its average volume of 4,293,213. The stock has a market capitalization of $19.05 billion, a P/E ratio of -60.35, a PEG ratio of 0.75 and a beta of 2.30. 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 company has a fifty day moving average of $154.69 and a 200 day moving average of $212.34. Flutter Entertainment PLC has a 12 month low of $99.96 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results 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). The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.Flutter Entertainment’s revenue was up 24.9% on a year-over-year basis. During the same period last year, the business earned $2.94 EPS. On average, research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC raised its stake in Flutter Entertainment by 43.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after buying an additional 43 shares during the last quarter. MML Investors Services LLC lifted its holdings in Flutter Entertainment by 0.6% in the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after acquiring an additional 45 shares during the period. OneDigital Investment Advisors LLC boosted its position in Flutter Entertainment by 1.2% in the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after purchasing an additional 49 shares during the last quarter. Versant Capital Management Inc grew its holdings in Flutter Entertainment by 5.6% during the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after purchasing an additional 50 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in Flutter Entertainment by 5.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after acquiring an additional 58 shares during the period.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. BTIG Research reduced their price target on shares of Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Canaccord Genuity Group decreased their price target on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Needham & Company LLC cut their price objective on Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $234.65.

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.