Flutter Entertainment (NYSE:FLUT) Director Alfred Hurley Jr Sells 135 Shares

Key Points

• Insider sale: Flutter Entertainment director Alfred Hurley Jr. sold 135 shares on May 28 at $94.63 each, totaling about $12,775. The sale reduced his holdings by 3.1% and was made to cover tax withholding tied to equity award vesting.
• Recent operating results were solid: The company reported quarterly EPS of $1.22, beating analyst estimates of $1.09, while revenue came in at $4.30 billion versus expectations of $4.24 billion. Revenue rose 17.4% year over year.
• Market and analyst backdrop: Flutter shares recently traded at $97.21, near the stock’s 1-year low of $91.52 and well below its 1-year high of $313.68. Analysts currently have a Moderate Buy consensus, though several firms have recently cut price targets.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) Director Alfred Hurley, Jr. sold 135 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total transaction of $12,775.05. Following the sale, the director owned 4,221 shares of the company's stock, valued at approximately $399,433.23. This represents a 3.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Performance

NYSE:FLUT traded up $1.63 during trading hours on Friday, reaching $97.21. 702,578 shares of the company's stock were exchanged, compared to its average volume of 3,583,695. The firm has a market capitalization of $16.91 billion, a price-to-earnings ratio of -45.30, a P/E/G ratio of 1.27 and a beta of 1.58. The company has a 50-day moving average of $103.06 and a 200 day moving average of $151.21. 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 PLC has a 1-year low of $91.52 and a 1-year high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) 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. The firm had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 EPS. Research analysts anticipate that Flutter Entertainment PLC will post 4.88 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Large investors have recently made changes to their positions in the stock. MML Investors Services LLC grew its stake in Flutter Entertainment by 0.6% in the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company's stock valued at $2,024,000 after acquiring an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in Flutter Entertainment by 1.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company's stock valued at $1,030,000 after acquiring an additional 49 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in Flutter Entertainment by 5.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company's stock valued at $273,000 after acquiring an additional 58 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company's stock valued at $290,000 after acquiring an additional 69 shares during the last quarter. Finally, Truist Financial Corp grew its stake in Flutter Entertainment by 2.8% in the 4th quarter. Truist Financial Corp now owns 2,602 shares of the company's stock valued at $560,000 after acquiring an additional 72 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Flutter Entertainment from $216.00 to $189.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. Barclays dropped their price objective on shares of Flutter Entertainment from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Citigroup cut shares of Flutter Entertainment from a "buy" rating to a "sell" rating in a research note on Thursday, April 16th. BNP Paribas Exane began coverage on Flutter Entertainment in a report on Thursday, May 14th. They issued an "underperform" rating and a $80.00 price target for the company. Finally, UBS Group reduced their price target on Flutter Entertainment from $300.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $189.26.

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.

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