Key Points
- CEO Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment on March 11 at an average of $108, trimming his holding by 10.52% (proceeds ~$467,208), part of broader recent insider sales that can weigh on sentiment.
- The board approved a $250 million share buyback (about 1.3% of shares outstanding), a move that signals management believes the stock may be undervalued and could support near-term demand.
- Flutter missed the quarter with $1.74 EPS vs. $2.11 expected and $4.74B revenue vs. $4.87B consensus, despite 24.9% revenue growth year-over-year; analysts maintain a consensus "Moderate Buy" rating with an average price target of about $234.65.
Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) CEO Jeremy Peter Jackson sold 4,326 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total value of $467,208.00. Following the transaction, the chief executive officer directly owned 36,788 shares in the company, valued at approximately $3,973,104. This represents a 10.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Flutter Entertainment Stock Up 2.6%
Shares of FLUT opened at $108.26 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. The business has a fifty day moving average of $152.49 and a 200 day moving average of $211.01. The company has a market cap of $18.98 billion, a PE ratio of -60.14, a P/E/G ratio of 0.72 and a beta of 2.30. Flutter Entertainment PLC has a 52-week low of $99.96 and a 52-week high of $313.68.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing analysts' consensus estimates of $2.11 by ($0.37). The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The company's revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.94 EPS. On average, sell-side analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current year.
Flutter Entertainment announced that its board has authorized a share buyback program on Wednesday, March 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FLUT. Oppenheimer cut their target price on Flutter Entertainment from $280.00 to $210.00 and set an "outperform" rating on the stock in a research note on Thursday, February 26th. Stifel Nicolaus decreased their price target on Flutter Entertainment from $304.00 to $259.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Susquehanna restated a "positive" rating and set a $228.00 price objective on shares of Flutter Entertainment in a report on Tuesday, January 27th. Citigroup reaffirmed an "outperform" rating on shares of Flutter Entertainment in a research report on Monday, January 5th. Finally, HSBC upgraded Flutter Entertainment from a "hold" rating to a "buy" rating and reduced their target price for the stock from $265.00 to $228.00 in a research note on Monday, November 24th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $234.65.
Read Our Latest Analysis on FLUT
Trending Headlines about Flutter Entertainment
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Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. ORG Partners LLC increased its holdings in Flutter Entertainment by 43.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the company's stock worth $36,000 after purchasing an additional 43 shares during the period. MML Investors Services LLC lifted its holdings in shares of Flutter Entertainment by 0.6% in the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company's stock worth $2,024,000 after buying an additional 45 shares during the period. OneDigital Investment Advisors LLC grew its position in shares of Flutter Entertainment by 1.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company's stock worth $1,030,000 after buying an additional 49 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Flutter Entertainment by 5.6% during the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company's stock worth $240,000 after buying an additional 50 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Flutter Entertainment by 5.7% during the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company's stock valued at $273,000 after buying an additional 58 shares during the period.
About Flutter Entertainment
(
Get Free Report)
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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