Flutter Entertainment (NYSE:FLUT) COO James Philip Bishop Sells 13,125 Shares of Stock

Key Points

• Flutter COO James Philip Bishop sold 13,125 shares for about $1.08 million at an average price of $82.12, cutting his direct stake by 44.38% to 16,449 shares.
• Flutter’s latest quarterly results missed expectations: it reported a loss of $0.18 per share versus consensus earnings of $0.32, and revenue of $3.87 billion versus $3.99 billion expected, though revenue rose 2.1% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $129.75; the stock opened at $85.10 in the article’s cited session.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) COO James Bishop sold 13,125 shares of Flutter Entertainment stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $82.12, for a total value of $1,077,825.00. Following the completion of the sale, the chief operating officer directly owned 16,449 shares in the company, valued at $1,350,791.88. This represents a 44.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

James Philip Bishop also recently made the following trade(s):

• On Tuesday, September 1st, James Bishop sold 741 shares of Flutter Entertainment stock. The stock was sold at an average price of $97.86, for a total value of $72,514.26.

Flutter Entertainment Stock Up 3.1%

NYSE:FLUT opened at $85.10 on Thursday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $14.80 billion, a PE ratio of -16.09 and a beta of 1.27. Flutter Entertainment PLC has a 52-week low of $72.56 and a 52-week high of $235.77. The stock has a 50-day simple moving average of $84.47 and a 200 day simple moving average of $103.45.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.50). The firm had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.99 billion. Flutter Entertainment had a negative net margin of 5.37% and a positive return on equity of 4.38%. The company's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 EPS. On average, sell-side analysts expect that Flutter Entertainment PLC will post 3.05 EPS for the current fiscal year.

Institutional Trading of Flutter Entertainment

A number of hedge funds have recently made changes to their positions in FLUT. Parvus Asset Management Jersey Ltd acquired a new position in shares of Flutter Entertainment during the 2nd quarter worth approximately $1,552,097,267. Hsbc Holdings PLC lifted its holdings in Flutter Entertainment by 33,988.7% during the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company's stock valued at $575,185,000 after purchasing an additional 5,589,099 shares during the last quarter. Amundi boosted its position in Flutter Entertainment by 463.7% during the first quarter. Amundi now owns 2,059,906 shares of the company's stock worth $210,007,000 after purchasing an additional 1,694,474 shares during the period. Janus Henderson Group PLC boosted its position in Flutter Entertainment by 1.3% during the first quarter. Janus Henderson Group PLC now owns 1,601,605 shares of the company's stock worth $163,202,000 after purchasing an additional 20,810 shares during the period. Finally, WGI DM LLC increased its holdings in shares of Flutter Entertainment by 102.2% in the third quarter. WGI DM LLC now owns 961,047 shares of the company's stock valued at $71,636,000 after purchasing an additional 485,678 shares during the last quarter.

Wall Street Analyst Weigh In

FLUT has been the subject of a number of analyst reports. BTIG Research raised their target price on shares of Flutter Entertainment from $95.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, November 4th. Needham & Company LLC reduced their price target on Flutter Entertainment from $135.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Truist Financial lowered their price target on Flutter Entertainment from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Tuesday, October 20th. Cfra cut Flutter Entertainment from a "buy" rating to a "hold" rating and set a $94.00 price objective on the stock. in a research note on Tuesday. Finally, Wedbush dropped their price objective on Flutter Entertainment from $126.00 to $110.00 and set an "outperform" rating on the stock in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $129.75.

About Flutter Entertainment

Flutter Entertainment is a global sports betting and gaming company that provides online and retail wagering, casino gaming and poker services. Its brands include FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, Sportsbet in Australia, and PokerStars in international markets. The company serves customers across the United States, the United Kingdom and Ireland, Australia, and other international markets. Its offerings include online sports betting, iGaming products such as casino games, poker platforms, and, in some markets, betting shops.

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