Flutter Entertainment (NYSE:FLUT) Director Sells $20,250.82 in Stock

Key Points

• Director John Bryant sold 214 shares of Flutter Entertainment on May 28 for about $20,250.82 at an average price of $94.63. The sale left him with 9,021 shares, and the company said it was tied to tax withholding from vested equity awards.
• Flutter recently reported better-than-expected quarterly results, posting EPS of $1.22 versus the $1.09 estimate and revenue of $4.30 billion, up 17.4% year over year. Despite the beat, the company still had a negative net margin of 2.20%.
• The company also has a $250 million share buyback authorization in place, while Wall Street remains moderately positive overall. Analysts currently show a consensus rating of “Moderate Buy” with a consensus price target of $189.26.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) Director John Bryant sold 214 shares of the company'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 $20,250.82. Following the transaction, the director owned 9,021 shares of the company's stock, valued at $853,657.23. This represents a 2.32% decrease in their ownership of the stock. The transaction 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 Price Performance

NYSE:FLUT traded up $1.63 during trading hours on Friday, reaching $97.21. 702,578 shares of the company were exchanged, compared to its average volume of 3,583,695. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock's 50-day moving average is $103.06 and its 200-day moving average is $151.21. The firm has a market cap 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. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data 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 negative net margin of 2.20% and a positive return on equity of 11.60%. The company had revenue of $4.30 billion during the quarter, compared to analysts' expectations of $4.24 billion. During the same period in the prior year, the business posted $1.59 earnings per share. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. On average, sell-side analysts anticipate that Flutter Entertainment PLC will post 4.88 earnings per share for the current fiscal year.

Flutter Entertainment declared that its board has approved a stock buyback plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FLUT. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $167.00 price target on shares of Flutter Entertainment in a research report on Friday, May 8th. BNP Paribas Exane began coverage on shares of Flutter Entertainment in a research report on Thursday, May 14th. They set an "underperform" rating and a $80.00 price target on the stock. Susquehanna lowered their price target on shares of Flutter Entertainment from $160.00 to $143.00 and set a "positive" rating on the stock in a research report on Tuesday, March 31st. Moffett Nathanson lowered shares of Flutter Entertainment from a "buy" rating to a "neutral" rating and set a $127.00 price target on the stock. in a research report on Friday, April 24th. Finally, UBS Group lowered 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 investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $189.26.

Institutional Trading of Flutter Entertainment

A number of hedge funds and other institutional investors have recently modified their holdings of FLUT. MassMutual Private Wealth & Trust FSB increased 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 purchasing an additional 79 shares during the last quarter. JFS Wealth Advisors LLC purchased a new stake in shares of Flutter Entertainment in the 3rd quarter valued at approximately $27,000. Zions Bancorporation National Association UT raised its stake in shares of Flutter Entertainment by 1,685.7% in the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company's stock valued at $27,000 after acquiring an additional 118 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in shares of Flutter Entertainment in the 3rd quarter valued at approximately $34,000. Finally, EFG International AG purchased a new stake in shares of Flutter Entertainment in the 4th quarter valued at approximately $36,000.

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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