Jeremy Peter Jackson Sells 2,112 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Key Points

• CEO Jeremy Peter Jackson sold 2,112 Flutter Entertainment shares at an average price of $93.32, generating $197,091.84. The sale covered tax withholding obligations tied to vested equity awards and reduced his direct holdings by 2.84% to 72,214 shares.
• Flutter reported quarterly revenue of $4.33 billion, exceeding estimates, but earnings per share of $0.49 fell short of the $0.54 consensus. Revenue increased 3.3% year over year, while the company posted a negative net margin.
• Analysts maintain a generally positive outlook, with Flutter holding a consensus “Moderate Buy” rating and an average price target of $159.12, despite several recent target-price reductions.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total transaction of $197,091.84. Following the completion of the transaction, the chief executive officer directly owned 72,214 shares of the company's stock, valued at approximately $6,739,010.48. The trade was a 2.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Trading Up 6.9%

FLUT stock opened at $99.33 on Thursday. Flutter Entertainment PLC has a twelve month low of $89.71 and a twelve month high of $309.41. The stock has a market capitalization of $17.24 billion, a price-to-earnings ratio of -23.10, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28. 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 firm's fifty day simple moving average is $103.36 and its two-hundred day simple moving average is $108.63.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.05). The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.95 earnings per share. As a group, analysts anticipate that Flutter Entertainment PLC will post 3.48 earnings per share for the current year.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of FLUT. Parvus Asset Management Jersey Ltd purchased a new position in Flutter Entertainment in the second quarter valued at about $1,552,097,267,000. Cibc World Markets Corp acquired a new stake in Flutter Entertainment in the fourth quarter valued at approximately $1,678,841,000. Hsbc Holdings PLC increased its position in shares of Flutter Entertainment by 33,988.7% during the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company's stock worth $575,185,000 after purchasing an additional 5,589,099 shares in the last quarter. Capital International Investors grew its stake in Flutter Entertainment by 146.8% during the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company's stock worth $1,728,772,000 after buying an additional 4,782,302 shares during the last quarter. Finally, Norges Bank purchased a new stake in Flutter Entertainment in the fourth quarter valued at about $694,009,000.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FLUT shares. BTIG Research dropped their price objective on Flutter Entertainment from $120.00 to $113.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Stifel Nicolaus decreased their target price on Flutter Entertainment from $161.00 to $133.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Wells Fargo & Company lowered their target price on Flutter Entertainment from $137.00 to $112.00 and set an "equal weight" rating for the company in a report on Thursday, August 6th. Jefferies Financial Group reissued a "buy" rating and set a $180.00 price target on shares of Flutter Entertainment in a research report on Sunday, August 9th. Finally, Citizens Jmp cut their price target on Flutter Entertainment from $165.00 to $159.00 and set a "market outperform" rating on the stock in a research note on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.12.

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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