Insider Selling: Flutter Entertainment (NYSE:FLUT) CEO Sells 791 Shares of Stock

Key Points

• CEO Daniel Mark Taylor sold 791 Flutter Entertainment shares at an average price of $97.86, generating $77,407.26. The sale covered tax obligations tied to vested equity awards and reduced his holdings by 1.49% to 52,467 shares.
• Flutter shares recently traded at $101.93, near their 50-day and 200-day moving averages, while the stock remains well below its 52-week high of $297.23. The company reported quarterly revenue of $4.33 billion, above estimates, but earnings per share of $0.49 missed expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $156.88 target price, despite several firms recently lowering their price objectives.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) CEO Daniel Mark Taylor sold 791 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $77,407.26. Following the transaction, the chief executive officer owned 52,467 shares of the company's stock, valued at $5,134,420.62. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Performance

Shares of NYSE:FLUT traded down $0.05 during trading hours on Thursday, hitting $101.93. The stock had a trading volume of 673,628 shares, compared to its average volume of 3,350,201. The stock's fifty day simple moving average is $102.61 and its 200 day simple moving average is $104.92. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of -23.68, a PEG ratio of 2.46 and a beta of 1.26. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment PLC has a 1-year low of $89.71 and a 1-year high of $297.23.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.05). The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. Flutter Entertainment's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.95 earnings per share. Sell-side analysts anticipate that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FLUT. Freedom Capital raised Flutter Entertainment to a "hold" rating in a report on Monday, June 22nd. Benchmark reduced their price objective on Flutter Entertainment from $132.00 to $113.00 and set a "buy" rating for the company in a research note on Thursday, August 6th. UBS Group decreased their target price on Flutter Entertainment from $160.00 to $140.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Flutter Entertainment in a research report on Thursday. Finally, Citizens Jmp reduced their target price on Flutter Entertainment from $165.00 to $159.00 and set a "market outperform" rating for the company in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $156.88.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors have recently modified their holdings of the stock. Zions Bancorporation National Association UT boosted its position in Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company's stock valued at $27,000 after purchasing an additional 118 shares during the last quarter. EFG International AG acquired a new position in Flutter Entertainment in the 4th quarter worth about $36,000. IFP Advisors Inc raised its stake in shares of Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company's stock worth $40,000 after purchasing an additional 90 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Flutter Entertainment by 83.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company's stock valued at $42,000 after buying an additional 75 shares during the last quarter. Finally, LM Advisors LLC bought a new stake in shares of Flutter Entertainment in the 4th quarter valued at approximately $46,000.

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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