Flutter Entertainment (NYSE:FLUT) Director Buys $51,000.00 in Stock

Flutter Entertainment PLC (NYSE:FLUT) Director Stefan Andreas Bomhard bought 500 shares of the stock in a transaction on Friday, May 8th. The stock was purchased at an average price of $102.00 per share, with a total value of $51,000.00. Following the completion of the purchase, the director owned 1,177 shares of the company’s stock, valued at $120,054. This represents a 73.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Flutter Entertainment Stock Up 4.3%

NYSE:FLUT traded up $4.03 during mid-day trading on Tuesday, hitting $97.99. 937,060 shares of the company’s stock traded hands, compared to its average volume of 3,738,396. The company has a fifty day moving average of $106.57 and a 200 day moving average of $163.84. 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 PLC has a twelve month low of $93.56 and a twelve month high of $313.68. The company has a market capitalization of $17.05 billion, a P/E ratio of -45.83, a P/E/G ratio of 0.84 and a beta of 1.58.

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, topping analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the firm earned $1.59 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. On average, analysts forecast that Flutter Entertainment PLC will post 5.14 EPS for the current year.

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

Analyst Ratings Changes

FLUT has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $167.00 price target on shares of Flutter Entertainment in a report on Friday. Benchmark reduced their target price on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 21st. Truist Financial cut their price objective on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein decreased their target price on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $194.23.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FLUT. ABN Amro Investment Solutions acquired a new stake in Flutter Entertainment in the 1st quarter valued at $574,000. Oslo Pensjonsforsikring AS acquired a new position in Flutter Entertainment during the first quarter worth $238,000. Parallel Advisors LLC lifted its holdings in Flutter Entertainment by 489.7% during the first quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock valued at $47,000 after purchasing an additional 382 shares in the last quarter. Swiss National Bank grew its position in shares of Flutter Entertainment by 7.1% in the first quarter. Swiss National Bank now owns 490,422 shares of the company’s stock valued at $49,999,000 after purchasing an additional 32,480 shares during the period. Finally, HughesLittle Investment Management Ltd. grew its position in shares of Flutter Entertainment by 34.8% in the first quarter. HughesLittle Investment Management Ltd. now owns 329,440 shares of the company’s stock valued at $33,586,000 after purchasing an additional 85,050 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.