Don Liu Purchases 1,459 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment PLC (NYSE:FLUT) insider Don Liu acquired 1,459 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $102.78 per share, for a total transaction of $149,956.02. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $95.02 on Thursday. The company’s 50 day moving average price is $106.15 and its 200 day moving average price is $161.64. Flutter Entertainment PLC has a 52 week low of $92.22 and a 52 week high of $313.68. The company has a market capitalization of $16.53 billion, a PE ratio of -44.40, a PEG ratio of 1.21 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.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, May 6th. The company reported $1.22 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 the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.59 earnings per share. Research analysts expect that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

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

Analyst Ratings Changes

Several research firms recently commented on FLUT. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $167.00 target price on shares of Flutter Entertainment in a research note on Friday, May 8th. Susquehanna cut their target price on shares of Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research note on Tuesday, March 31st. Craig Hallum cut shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Wednesday, January 21st. Truist Financial cut their target price on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, UBS Group cut their target price on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.23.

Key Headlines Impacting Flutter Entertainment

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: Several insiders have been buying shares, including CEO Daniel Mark Taylor, COO James Philip Bishop, and directors John A. Bryant, Stefan Andreas Bomhard, and Don H. Liu. That cluster of buying can signal management confidence that FLUT may be undervalued after the recent decline. Article on insider buying
• Positive Sentiment: Flutter canceled 197,611 shares in the latest tranche of its $5 billion buyback program, which supports earnings per share and shows continued capital return to shareholders. Article on buyback cancellation
• Neutral Sentiment: BlackRock reportedly added more Flutter shares, which may reflect institutional confidence and also fuel speculation that a London delisting could become more likely. Article on BlackRock buying shares
• Neutral Sentiment: Analysts’ questions from Flutter’s Q1 earnings call suggest investors are still focused on execution, margin trends, and the durability of U.S. growth after the recent reset in expectations. Article on Q1 earnings call questions
• Negative Sentiment: Citi warned Flutter’s U.S. profit targets may still be too high, raising the risk of further disappointment if second-half results do not meet expectations. Article on Citi warning
• Negative Sentiment: A recent report said FLUT was down sharply after its Q1 miss, CEO exit, and leadership shake-up, reinforcing concerns about the company’s near-term earnings trajectory and management stability. Article on stock decline

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds have recently made changes to their positions in FLUT. MassMutual Private Wealth & Trust FSB increased its position in shares of Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. JFS Wealth Advisors LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $27,000. Zions Bancorporation National Association UT increased its position in shares of Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares in the last quarter. JCIC Asset Management Inc. acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $32,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $34,000.

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.