Flutter Entertainment (NYSE:FLUT) Director Nancy Dubuc Sells 135 Shares

Key Points

• Director Nancy Dubuc sold 135 shares of Flutter Entertainment on May 28 at an average price of $94.63, for proceeds of about $12,775. The filing says the sale was made to cover tax withholding tied to vesting equity awards.
• Flutter shares rose 1.63% to $97.21 in Friday trading, but the stock remains well below its recent averages and 52-week high. The company’s market cap is about $16.9 billion, with a 52-week range of $91.52 to $313.68.
• In its latest quarter, Flutter beat Wall Street estimates with EPS of $1.22 on revenue of $4.30 billion, up 17.4% year over year. The company also has a $250 million share buyback authorization, while analysts currently rate the stock a consensus “Moderate Buy.”

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) Director Nancy Dubuc sold 135 shares of Flutter Entertainment stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $12,775.05. Following the transaction, the director owned 1,261 shares of the company's stock, valued at $119,328.43. This represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Performance

FLUT traded up $1.63 during trading on Friday, hitting $97.21. The stock had a trading volume of 702,578 shares, compared to its average volume of 3,583,695. The company has a 50 day moving average price of $103.06 and a 200-day moving average price of $151.21. The firm has a market cap 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. Flutter Entertainment PLC has a one year low of $91.52 and a one year high of $313.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the company posted $1.59 EPS. The firm's quarterly revenue was up 17.4% on a year-over-year basis. As a group, research analysts predict that Flutter Entertainment PLC will post 4.88 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Groupama Asset Managment increased its holdings in Flutter Entertainment by 17.5% in the 1st quarter. Groupama Asset Managment now owns 5,413 shares of the company's stock worth $552,000 after purchasing an additional 808 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Flutter Entertainment by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,601,605 shares of the company's stock worth $163,202,000 after purchasing an additional 20,810 shares in the last quarter. Amundi increased its holdings in Flutter Entertainment by 463.7% in the 1st quarter. Amundi now owns 2,059,906 shares of the company's stock worth $210,007,000 after purchasing an additional 1,694,474 shares in the last quarter. Riposte Capital LLC acquired a new position in Flutter Entertainment in the 1st quarter worth about $7,646,000. Finally, Empowered Funds LLC increased its holdings in Flutter Entertainment by 4,438.9% in the 1st quarter. Empowered Funds LLC now owns 3,268 shares of the company's stock worth $333,000 after purchasing an additional 3,196 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Truist Financial dropped their price objective on Flutter Entertainment from $140.00 to $130.00 and set a "buy" rating for the company in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $167.00 price objective on shares of Flutter Entertainment in a report on Friday, May 8th. Citigroup cut Flutter Entertainment from a "buy" rating to a "sell" rating in a report on Thursday, April 16th. Wells Fargo & Company dropped their price objective on Flutter Entertainment from $164.00 to $161.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Finally, BNP Paribas Exane initiated coverage on Flutter Entertainment in a report on Thursday, May 14th. They issued an "underperform" rating and a $80.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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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