Flutter Entertainment (NYSE:FLUT) Insider Don Liu Sells 1,259 Shares

Key Points

• Insider selling: Flutter Entertainment insider Don Liu sold 1,259 shares at an average price of $93.37, worth about $117,553. The sale reduced his ownership by 5.65% and was made to cover tax withholding obligations tied to vested equity awards.
• Recent performance: Flutter reported better-than-expected first-quarter results, with EPS of $1.22 versus $1.09 expected and revenue of $4.30 billion versus $4.24 billion expected. Revenue rose 17.4% year over year, though the company still posted a negative net margin.
• Stock and analyst backdrop: Shares fell about 1% to $94.01, near their 52-week low and well below the 50-day and 200-day moving averages. Analysts remain broadly positive overall, but several have trimmed price targets, and the company continues to support the stock with a $250 million buyback authorization.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) insider Don Liu sold 1,259 shares of the business's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total value of $117,552.83. Following the transaction, the insider directly owned 21,006 shares of the company's stock, valued at $1,961,330.22. The trade was a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Down 1.0%

Shares of FLUT traded down $1.00 during midday trading on Thursday, hitting $94.01. The company had a trading volume of 732,262 shares, compared to its average volume of 3,717,629. Flutter Entertainment PLC has a 1 year low of $92.02 and a 1 year high of $313.68. The firm has a market capitalization of $16.36 billion, a P/E ratio of -43.93, a P/E/G ratio of 1.21 and a beta of 1.58. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The company's 50-day simple moving average is $106.15 and its 200-day simple moving average is $161.64.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 earnings per share. As a group, sell-side analysts expect that Flutter Entertainment PLC will post 5.14 EPS for the current year.

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

More Flutter Entertainment News

Here are the key news stories impacting Flutter Entertainment this week:

• Positive Sentiment: Director Carolan Lennon bought 520 shares at $92.30, adding to a cluster of insider purchases by the CEO, COO, and other directors. Multiple insider buys can signal confidence that FLUT is undervalued after its recent decline. Article title
• Positive Sentiment: Recent insider purchases from top executives, including CEO Daniel Mark Taylor and COO James Philip Bishop, reinforce the idea that leadership is buying into the company’s longer-term outlook at depressed prices. Article title
• Positive Sentiment: Flutter’s latest quarter beat expectations on both earnings and revenue, and the company continues to support its shares with a $250 million buyback program, which can help offset some selling pressure. Article title
• Neutral Sentiment: Analysts remain broadly constructive, but several have lowered price targets after earnings, showing the stock may be cheap but still faces execution risk. Article title
• Negative Sentiment: Investor concerns remain centered on FanDuel’s performance and Flutter’s U.S. profit outlook, with reports suggesting the company may need to prove its growth targets are realistic. Article title

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Susquehanna lowered their price objective 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. Citizens Jmp dropped 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 note on Thursday, May 7th. Oppenheimer reduced their price objective on shares of Flutter Entertainment from $210.00 to $160.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. Bank of America dropped their target price on Flutter Entertainment from $250.00 to $210.00 and set a "neutral" rating on the stock in a research report on Thursday, January 22nd. Finally, Moffett Nathanson downgraded Flutter Entertainment from a "buy" rating to a "neutral" rating and set a $127.00 price target on the stock. in a research note on Friday, April 24th. Two research 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $189.26.

Institutional Trading of Flutter Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of FLUT. MassMutual Private Wealth & Trust FSB increased its position in shares of Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company's stock worth $25,000 after acquiring an additional 79 shares in the last quarter. JFS Wealth Advisors LLC bought a new position in Flutter Entertainment during the third quarter worth $27,000. Zions Bancorporation National Association UT lifted its position 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 worth $27,000 after buying an additional 118 shares during the last quarter. JCIC Asset Management Inc. acquired a new stake in Flutter Entertainment during the third quarter worth about $32,000. Finally, Atlantic Union Bankshares Corp acquired a new position in Flutter Entertainment during the 3rd quarter valued at approximately $34,000.

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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