Insider Selling: Flutter Entertainment PLC (NYSE:FLUT) Insider Sells 15,283 Shares of Stock

Key Points

• Insider Transaction: Daniel Mark Taylor sold 15,283 shares of Flutter Entertainment at an average price of $284.80, decreasing his ownership by 47.95% and resulting in a total sale value of $4.35 million.
• Quarterly Earnings Beat: Flutter Entertainment reported earnings per share of $2.95 for the last quarter, significantly surpassing analysts' expectations of $2.08 and achieving revenues of $4.19 billion, up 16% year-over-year.
• Share Repurchase Plan: The company's Board of Directors authorized a share repurchase plan allowing for the buyback of $245 million in outstanding shares, indicating confidence in the stock's value.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) insider Daniel Mark Taylor sold 15,283 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the transaction, the insider directly owned 16,589 shares in the company, valued at approximately $4,724,547.20. The trade was a 47.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock traded up $4.40 during trading on Friday, hitting $293.17. 1,375,347 shares of the stock were exchanged, compared to its average volume of 2,296,502. The stock's fifty day moving average is $287.56 and its 200 day moving average is $261.12. The stock has a market cap of $51.63 billion, a PE ratio of 144.42, a P/E/G ratio of 1.20 and a beta of 2.31. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment PLC has a 12 month low of $196.88 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. The business had revenue of $4.19 billion during the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its board has authorized a stock repurchase program on Friday, August 8th that authorizes the company to repurchase $245.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 0.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors have recently bought and sold shares of the stock. Duquesne Family Office LLC lifted its holdings in Flutter Entertainment by 7.4% in the second quarter. Duquesne Family Office LLC now owns 405,320 shares of the company's stock worth $115,771,000 after purchasing an additional 27,845 shares during the period. Corient Private Wealth LLC lifted its holdings in Flutter Entertainment by 25.4% in the 2nd quarter. Corient Private Wealth LLC now owns 5,536 shares of the company's stock valued at $1,582,000 after acquiring an additional 1,123 shares during the last quarter. Captrust Financial Advisors acquired a new stake in Flutter Entertainment in the 2nd quarter valued at about $203,000. Voleon Capital Management LP acquired a new stake in Flutter Entertainment in the 2nd quarter valued at about $418,000. Finally, Theleme Partners LLP lifted its holdings in Flutter Entertainment by 73.2% in the 2nd quarter. Theleme Partners LLP now owns 643,528 shares of the company's stock valued at $183,895,000 after acquiring an additional 272,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Macquarie boosted their target price on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Sanford C. Bernstein reissued a "market perform" rating on shares of Flutter Entertainment in a research report on Friday, August 8th. Oppenheimer upped their price target on shares of Flutter Entertainment from $310.00 to $350.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Bank of America upped their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, UBS Group reaffirmed a "buy" rating and issued a $360.00 price target (up from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of "Moderate Buy" and a consensus price target of $328.62.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.