Flutter Entertainment (NYSE:FLUT) Director Sells $12,775.05 in Stock

Key Points

• Director Holly Koeppel sold 135 shares of Flutter Entertainment on May 28 at an average price of $94.63, totaling $12,775.05. The filing says the sale was made to cover tax withholding tied to vested equity awards.
• FLUT shares rose 1.7% in recent trading to $97.21, even after the stock has fallen well below its 52-week high of $313.68. The company’s market cap is about $16.91 billion.
• Flutter’s latest earnings beat expectations, with Q1 EPS of $1.22 versus $1.09 expected and revenue of $4.30 billion, up 17.4% year over year. Analysts currently rate the stock a “Moderate Buy” with an average target price of $189.26.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) Director Holly Koeppel sold 135 shares of the firm's 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 transaction, the director directly owned 3,259 shares of the company's stock, valued at approximately $308,399.17. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 Up 1.7%

FLUT stock traded up $1.63 during mid-day trading on Friday, hitting $97.21. 702,578 shares of the company were exchanged, compared to its average volume of 3,583,695. The company has a market capitalization of $16.91 billion, a PE ratio of -45.30, a price-to-earnings-growth ratio of 1.27 and a beta of 1.58. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68. The firm has a fifty day simple moving average of $103.06 and a 200 day simple moving average of $151.21.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the business earned $1.59 EPS. On average, research analysts forecast that Flutter Entertainment PLC will post 4.88 earnings per share for the current fiscal year.

Flutter Entertainment declared that its board has initiated a share buyback program on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its position in shares of Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company's stock worth $25,000 after buying an additional 79 shares in the last quarter. JFS Wealth Advisors LLC bought a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $27,000. Zions Bancorporation National Association UT raised its position in shares of Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company's stock worth $27,000 after buying an additional 118 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $34,000. Finally, EFG International AG acquired a new stake in Flutter Entertainment in the 4th quarter valued at about $36,000.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Flutter Entertainment from $164.00 to $161.00 and set an "equal weight" rating on the stock in a research report on Friday, May 8th. Weiss Ratings restated a "sell (d)" rating on shares of Flutter Entertainment in a research report on Wednesday. Citizens Jmp reduced their price target on shares of Flutter Entertainment from $188.00 to $165.00 and set a "market outperform" rating on the stock in a research report on Thursday, May 7th. Canaccord Genuity Group reduced their price target on shares of Flutter Entertainment from $270.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, March 2nd. Finally, UBS Group reduced their price target on shares of Flutter Entertainment from $300.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Flutter Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $189.26.

About Flutter Entertainment

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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