James Philip Bishop Purchases 1,000 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment PLC (NYSE:FLUT) COO James Philip Bishop acquired 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $99.75 per share, with a total value of $99,750.00. Following the acquisition, the chief operating officer owned 17,605 shares of the company’s stock, valued at approximately $1,756,098.75. This trade represents a 6.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $95.02 on Thursday. The business’s 50-day moving average price is $106.15 and its 200 day moving average price is $161.64. The firm has a market cap of $16.53 billion, a P/E ratio of -44.40, a PEG ratio of 1.21 and a beta of 1.58. Flutter Entertainment PLC has a 52-week low of $92.22 and a 52-week high of $313.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27.

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 analysts’ consensus estimates 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 company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the company earned $1.59 EPS. Flutter Entertainment’s revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts predict that Flutter Entertainment PLC will post 5.14 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has approved a share repurchase program on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FLUT shares. Citigroup cut shares of Flutter Entertainment from a “buy” rating to a “sell” rating in a report on Thursday, April 16th. Truist Financial cut their price objective on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Stifel Nicolaus reduced their price objective on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Zacks Research cut Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, Benchmark cut their target price on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average price target 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

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

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.