Insider Buying: Flutter Entertainment (NYSE:FLUT) Insider Purchases 1,459 Shares of Stock

Key Points

• Insider buying: Flutter Entertainment insider Don Liu bought 1,459 shares on May 8 at an average price of $102.78, a transaction worth about $150,000. The purchase boosted his direct ownership by 7.01% to 22,265 shares.
• Recent results beat expectations: Flutter reported quarterly EPS of $1.22, topping the $1.09 estimate, 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.
• Shares and outlook: The company has a $250 million share repurchase authorization, which may signal management sees value in the stock. Analysts currently rate FLUT a Moderate Buy with a consensus price target of $194.23, despite several recent target cuts.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) insider Don Liu purchased 1,459 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was acquired at an average price of $102.78 per share, with a total value of $149,956.02. Following the purchase, the insider directly owned 22,265 shares of the company's stock, valued at approximately $2,288,396.70. The trade was a 7.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock traded up $4.03 during trading on Tuesday, hitting $97.99. 937,060 shares of the company's stock traded hands, compared to its average volume of 3,738,396. Flutter Entertainment PLC has a 1 year low of $93.56 and a 1 year high of $313.68. The business has a 50-day simple moving average of $106.57 and a 200-day simple moving average of $163.84. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $17.05 billion, a P/E ratio of -45.83, a PEG ratio of 0.84 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its 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 negative net margin of 2.20% and a positive return on equity of 11.60%. The business had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.24 billion. During the same quarter in the prior year, the business earned $1.59 EPS. The business's revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, analysts forecast that Flutter Entertainment PLC will post 5.14 EPS for the current year.

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

Institutional Trading of Flutter Entertainment

Several institutional investors have recently made changes to their positions in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company's stock valued at $290,000 after purchasing an additional 69 shares during the period. Sivia Capital Partners LLC bought a new position in Flutter Entertainment in the 2nd quarter worth approximately $405,000. Creative Planning purchased a new stake in Flutter Entertainment during the 2nd quarter valued at approximately $296,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Flutter Entertainment by 246.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company's stock valued at $53,000 after buying an additional 133 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Flutter Entertainment by 74.6% during the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company's stock valued at $71,000 after buying an additional 106 shares during the last quarter.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of recent research reports. Barclays cut their price target on Flutter Entertainment from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday. Citigroup downgraded shares of Flutter Entertainment from a "buy" rating to a "sell" rating in a report on Thursday, April 16th. UBS Group reduced their target price on shares of Flutter Entertainment from $300.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, March 25th. Wells Fargo & Company decreased 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. Finally, Stifel Nicolaus dropped their price target on shares of Flutter Entertainment from $216.00 to $189.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.23.

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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