Insider Buying: Flutter Entertainment (NYSE:FLUT) Director Purchases 1,950 Shares of Stock

Key Points

• Insider buying: Flutter Entertainment Director John Bryant bought 1,950 shares at $102.86 each, a transaction worth about $200,577 and increasing his holdings by 26.77%.
• Recent performance: FLUT shares rose 4.3% in Tuesday trading, and the company just reported quarterly EPS of $1.22, beating expectations of $1.09 on revenue of $4.30 billion.
• Sentiment and outlook: Flutter has a $250 million share repurchase program in place, while analysts currently rate the stock a Moderate Buy with an average price target of $194.23.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) Director John Bryant purchased 1,950 shares of Flutter Entertainment stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $102.86 per share, for a total transaction of $200,577.00. Following the transaction, the director directly owned 9,235 shares of the company's stock, valued at $949,912.10. This trade represents a 26.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flutter Entertainment Stock Up 4.3%

Shares of FLUT stock traded up $4.03 during mid-day trading on Tuesday, reaching $97.99. 937,060 shares of the company's stock traded hands, compared to its average volume of 3,738,396. The company's 50-day moving average price is $106.57 and its 200-day moving average price is $163.84. The company has a market cap of $17.05 billion, a P/E ratio of -45.83, a P/E/G ratio of 0.84 and a beta of 1.58. 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 12 month low of $93.56 and a 12 month high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings results 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. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the business posted $1.59 EPS. The firm's quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities analysts expect that Flutter Entertainment PLC will post 5.14 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a stock repurchase program 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 programs are typically a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLUT. Truist Financial decreased their price target on shares of Flutter Entertainment from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday. Sanford C. Bernstein reduced their price target on Flutter Entertainment from $125.00 to $115.00 and set a "market perform" rating for the company in a research report on Thursday. Moffett Nathanson downgraded Flutter Entertainment from a "buy" rating to a "neutral" rating and set a $127.00 price objective on the stock. in a research note on Friday, April 24th. Needham & Company LLC cut their price objective on Flutter Entertainment from $150.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Finally, Barclays reduced their target price on shares of Flutter Entertainment from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Flutter Entertainment has a consensus rating of "Moderate Buy" and an average target price of $194.23.

Hedge Funds Weigh In On Flutter Entertainment

Several hedge funds have recently modified their holdings of FLUT. ORG Partners LLC grew its stake in Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company's stock valued at $36,000 after acquiring an additional 43 shares in the last quarter. MML Investors Services LLC boosted its holdings in shares of Flutter Entertainment by 0.6% during the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company's stock valued at $2,024,000 after purchasing an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Flutter Entertainment by 1.2% during the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company's stock valued at $1,030,000 after purchasing an additional 49 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Flutter Entertainment by 5.6% during the third quarter. Versant Capital Management Inc now owns 943 shares of the company's stock valued at $240,000 after purchasing an additional 50 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Flutter Entertainment by 5.7% in the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company's stock worth $273,000 after purchasing an additional 58 shares during the last quarter.

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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