Insider Selling: Flutter Entertainment (NYSE:FLUT) COO Sells $72,514.26 in Stock

Flutter Entertainment PLC (NYSE:FLUT) COO James Philip Bishop sold 741 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $72,514.26. Following the transaction, the chief operating officer directly owned 16,864 shares of the company’s stock, valued at approximately $1,650,311.04. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT traded down $0.05 on Thursday, reaching $101.93. The company’s stock had a trading volume of 673,628 shares, compared to its average volume of 3,350,201. The company has a 50-day simple moving average of $102.61 and a 200 day simple moving average of $104.92. Flutter Entertainment PLC has a 52-week low of $89.71 and a 52-week high of $297.23. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $17.69 billion, a P/E ratio of -23.68, a PEG ratio of 2.46 and a beta of 1.26.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the firm posted $2.95 EPS. Flutter Entertainment’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Flutter Entertainment PLC will post 3.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. Parvus Asset Management Jersey Ltd acquired a new position in shares of Flutter Entertainment during the second quarter valued at about $1,552,097,267. Cibc World Markets Corp acquired a new stake in Flutter Entertainment in the 4th quarter worth approximately $1,678,841,000. Hsbc Holdings PLC boosted its stake in Flutter Entertainment by 33,988.7% in the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after purchasing an additional 5,589,099 shares in the last quarter. Capital International Investors grew its position in Flutter Entertainment by 146.8% during the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after purchasing an additional 4,782,302 shares during the last quarter. Finally, Norges Bank purchased a new stake in Flutter Entertainment during the 4th quarter worth approximately $694,009,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FLUT shares. Benchmark cut their price target on Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flutter Entertainment in a research note on Monday, August 24th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Flutter Entertainment in a report on Thursday. Zacks Research downgraded shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. Finally, Stifel Nicolaus reduced their price target on shares of Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $156.88.

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.