Jeremy Peter Jackson Acquires 2,400 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Key Points

• Flutter Entertainment CEO Jeremy Peter Jackson bought 2,400 shares on May 8 at an average price of $101.94, a $244,656 purchase that increased his ownership by 3.51%. The filing says the purchase was tied to tax withholding obligations from vested equity awards.
• The company recently posted stronger-than-expected quarterly results, with EPS of $1.22 topping estimates and revenue rising 17.4% year over year to $4.30 billion. Management also maintained a positive return on equity of 11.60%.
• Flutter announced a $250 million share repurchase program, and analysts currently rate the stock a “Moderate Buy” with a consensus price target of $194.23. Several firms have trimmed targets recently, though most still maintain buy-equivalent ratings.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) CEO Jeremy Peter Jackson acquired 2,400 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average price of $101.94 per share, with a total value of $244,656.00. Following the completion of the acquisition, the chief executive officer owned 70,872 shares in the company, valued at $7,224,691.68. The trade was a 3.51% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jeremy Peter Jackson also recently made the following trade(s):

• On Monday, May 11th, Jeremy Peter Jackson sold 3,084 shares of Flutter Entertainment stock. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92.
• On Wednesday, March 11th, Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock. The stock was sold at an average price of $108.00, for a total transaction of $467,208.00.

Flutter Entertainment Stock Performance

FLUT traded up $4.03 during trading on Tuesday, hitting $97.99. The company's stock had a trading volume of 937,060 shares, compared to its average volume of 3,738,396. The business's 50 day simple moving average is $106.57 and its 200-day simple moving average is $163.84. The firm has a market cap of $17.05 billion, a PE ratio of -45.83, a P/E/G ratio of 0.84 and a beta of 1.58. Flutter Entertainment PLC has a one year low of $93.56 and a one year high of $313.68. 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 (NYSE:FLUT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the business posted $1.59 EPS. Flutter Entertainment's revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, sell-side analysts predict that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on FLUT shares. Citizens Jmp decreased their price objective on shares of Flutter Entertainment from $188.00 to $165.00 and set a "market outperform" rating for the company in a research note on Thursday, May 7th. Canaccord Genuity Group dropped their price target on Flutter Entertainment from $270.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. Stifel Nicolaus lowered their price target on shares of Flutter Entertainment from $216.00 to $189.00 and set a "buy" rating on the stock in a report on Thursday, April 9th. Oppenheimer cut their target price on shares of Flutter Entertainment from $210.00 to $160.00 and set an "outperform" rating for the company in a research note on Monday, April 13th. Finally, Craig Hallum lowered shares of Flutter Entertainment from a "buy" rating to a "hold" rating and set a $200.00 target price on the stock. in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.23.

Institutional Trading of Flutter Entertainment

Institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company's stock valued at $290,000 after buying an additional 69 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Flutter Entertainment during the 2nd quarter worth approximately $405,000. Creative Planning purchased a new stake in shares of Flutter Entertainment in the second quarter valued at $296,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Flutter Entertainment by 246.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company's stock worth $53,000 after purchasing an additional 133 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Flutter Entertainment by 74.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company's stock worth $71,000 after acquiring an additional 106 shares during the period.

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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