Insider Selling: Flutter Entertainment (NYSE:FLUT) Insider Sells 565 Shares

Key Points

• Insider sale: Don Liu sold 565 Flutter Entertainment shares for approximately $55,291, reducing his position by 2.69%. The sale covered tax-withholding obligations tied to vested equity awards.
• Stock and earnings: FLUT recently traded near $101.93, while the company reported quarterly revenue of $4.33 billion, above expectations, but earnings per share of $0.49 missed consensus estimates.
• Analyst outlook: Flutter holds a consensus “Moderate Buy” rating with an average price target of $156.88, despite several analysts lowering targets and some issuing Hold, Sell, or Underperform ratings.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) insider Don Liu sold 565 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $55,290.90. Following the sale, the insider directly owned 20,441 shares of the company's stock, valued at approximately $2,000,356.26. This trade represents a 2.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Trading Down 0.0%

Shares of FLUT stock traded down $0.05 during mid-day trading on Thursday, reaching $101.93. The company's stock had a trading volume of 673,628 shares, compared to its average volume of 3,350,201. Flutter Entertainment PLC has a 12-month low of $89.71 and a 12-month high of $297.23. The firm has a market capitalization of $17.69 billion, a PE ratio of -23.68, a price-to-earnings-growth ratio of 2.46 and a beta of 1.26. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.32. The company's 50 day simple moving average is $102.61 and its 200-day simple moving average is $104.92.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The firm's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.95 EPS. On average, research analysts predict that Flutter Entertainment PLC will post 3.48 EPS for the current fiscal year.

Analyst Ratings Changes

FLUT has been the subject of a number of research reports. New Street Research set a $110.00 price target on Flutter Entertainment in a research note on Thursday. Truist Financial decreased their target price on Flutter Entertainment from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, August 5th. Benchmark lowered their price target on Flutter Entertainment from $132.00 to $113.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Weiss Ratings reissued a "sell (d)" rating on shares of Flutter Entertainment in a research report on Monday, August 24th. Finally, BNP Paribas Exane assumed coverage on Flutter Entertainment in a research note on Thursday, May 14th. They set an "underperform" rating and a $80.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.88.

Institutional Investors Weigh In On Flutter Entertainment

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

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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