Nancy Cruickshank Sells 152 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Key Points

• Insider sale: Director Nancy Cruickshank sold 152 shares of Flutter Entertainment at an average price of $94.63, trimming her position by 5.77%. The sale was disclosed as being used to cover tax withholding obligations tied to vested equity awards.
• Latest performance and earnings: Flutter shares recently traded at $97.21, near the lower end of their 12-month range, while the company reported Q1 earnings of $1.22 per share on $4.30 billion in revenue, both ahead of analyst estimates. Revenue rose 17.4% year over year.
• Analyst and capital-return backdrop: Analyst opinions remain mixed, with an overall Moderate Buy consensus and an average price target of $189.26. The company also authorized a $250 million share repurchase program, signaling confidence in its valuation.

Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) Director Nancy Cruickshank sold 152 shares of Flutter Entertainment stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $14,383.76. Following the completion of the sale, the director directly owned 2,483 shares of the company's stock, valued at $234,966.29. The trade was a 5.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Performance

Shares of FLUT traded up $1.63 during trading hours on Friday, hitting $97.21. The stock had a trading volume of 702,578 shares, compared to its average volume of 3,583,695. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. The firm has a market capitalization of $16.91 billion, a PE ratio of -45.30, a PEG ratio of 1.27 and a beta of 1.58. The stock has a fifty day moving average price of $103.06 and a 200 day moving average price of $151.21.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.Flutter Entertainment's revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.59 earnings per share. Analysts anticipate that Flutter Entertainment PLC will post 4.88 EPS for the current year.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JFS Wealth Advisors LLC bought a new position in shares of Flutter Entertainment in the 3rd quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company's stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Zions Bancorporation National Association UT lifted its holdings in shares of Flutter Entertainment by 1,685.7% in the 4th 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 during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Flutter Entertainment in the 3rd quarter valued at about $34,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company's stock valued at $42,000 after acquiring an additional 75 shares during the last quarter.

Analyst Ratings Changes

FLUT has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on Flutter Entertainment from $216.00 to $189.00 and set a "buy" rating for the company in a research note on Thursday, April 9th. BNP Paribas Exane assumed coverage on Flutter Entertainment in a research note on Thursday, May 14th. They issued an "underperform" rating and a $80.00 price target for the company. Benchmark cut their price target on Flutter Entertainment from $175.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $167.00 price target on shares of Flutter Entertainment in a research note on Friday, May 8th. Finally, BTIG Research cut their price target on Flutter Entertainment from $137.00 to $126.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $189.26.

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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