Key Points
- CEO Daniel Mark Taylor bought shares twice this week, including 1,013 shares at $98.41 and another 1,611 shares at $94.29, increasing his position and signaling insider confidence in Flutter Entertainment.
- Flutter reported better-than-expected quarterly results on May 6, with EPS of $1.22 versus $1.09 expected and revenue of $4.30 billion, up 17.4% year over year.
- The company has authorized a $250 million share buyback program, while analysts maintain a mixed but generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $194.23.
Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) Director Carolan Lennon acquired 520 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $92.30 per share, for a total transaction of $47,996.00. Following the transaction, the director owned 2,127 shares of the company's stock, valued at $196,322.10. This represents a 32.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Flutter Entertainment Stock Performance
Shares of Flutter Entertainment stock opened at $95.02 on Thursday. Flutter Entertainment PLC has a one year low of $92.22 and a one year high of $313.68. The company has a market cap of $16.53 billion, a price-to-earnings ratio of -44.40, a PEG ratio of 1.21 and a beta of 1.58. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The business's 50 day moving average price is $106.15 and its 200 day moving average price is $161.64.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 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 firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $1.59 earnings per share. The firm's revenue was up 17.4% compared to the same quarter last year. On average, research analysts predict that Flutter Entertainment PLC will post 5.14 EPS for the current year.
Flutter Entertainment declared that its Board of Directors has approved a share buyback program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board believes its stock is undervalued.
Institutional Investors Weigh In On Flutter Entertainment
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Makena Capital Management LLC purchased a new position in shares of Flutter Entertainment during the third quarter worth $11,517,000. TimesSquare Capital Management LLC boosted its position in shares of Flutter Entertainment by 294.1% during the third quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company's stock worth $96,235,000 after buying an additional 282,736 shares during the period. AGF Management Ltd. purchased a new position in shares of Flutter Entertainment during the third quarter worth $9,519,000. Mutual of America Capital Management LLC purchased a new position in shares of Flutter Entertainment during the third quarter worth $2,173,000. Finally, Federated Hermes Inc. purchased a new position in shares of Flutter Entertainment during the third quarter worth $169,777,000.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on FLUT. UBS Group reduced their price objective on Flutter Entertainment from $300.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. Stifel Nicolaus cut their target price 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. Canaccord Genuity Group cut their target price on Flutter Entertainment from $270.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, March 2nd. Barclays cut their target price on Flutter Entertainment from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Finally, Citizens Jmp cut their target price on 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. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $194.23.
View Our Latest Research Report on Flutter Entertainment
Flutter Entertainment News Roundup
Here are the key news stories impacting Flutter Entertainment this week:
- Positive Sentiment: CEO Daniel Mark Taylor bought 1,013 shares at $98.41, adding to a series of recent insider purchases that can signal management confidence after the stock’s sharp pullback. Article title
- Positive Sentiment: Additional insider buying from the CEO, COO, and directors suggests several top executives see value at current levels, which may help support sentiment. Article title
- Neutral Sentiment: Flutter’s latest earnings beat expectations on both EPS and revenue, and the company has an active $250 million buyback program, but those positives are being offset by caution about future U.S. profitability. Article title
- Neutral Sentiment: Several analysts have cut price targets while still keeping buy or outperform ratings, indicating the stock may be viewed as undervalued but still facing execution risk. Article title
- Negative Sentiment: Citi warned that Flutter’s U.S. profit targets may be too ambitious, and consensus estimates for U.S. EBITDA remain under pressure after the company’s recent guidance update. Article title
- Negative Sentiment: Reports highlighting FanDuel performance concerns and a leadership shake-up have weighed on investor confidence and helped drive the recent selloff in FLUT. Article title
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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