Key Points
- Insider sale: Flutter Entertainment insider Don Liu sold 1,259 shares at an average price of $93.37, totaling about $117,553. The filing says the sale was to cover tax withholding obligations tied to vested equity awards.
- Stock and financial snapshot: FLUT shares were down about 1.4% and opened at $93.70, near their 52-week low of $92.02. The stock remains far below its 52-week high of $313.68.
- Recent performance and outlook: Flutter beat quarterly earnings expectations, reporting $1.22 EPS on $4.30 billion in revenue, and revenue rose 17.4% year over year. Analysts currently rate the stock a “Moderate Buy,” with a consensus target price of $189.26.
Flutter Entertainment PLC (NYSE:FLUT - Get Free Report) insider Don Liu sold 1,259 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total transaction of $117,552.83. Following the sale, the insider owned 21,006 shares of the company's stock, valued at $1,961,330.22. This represents a 5.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Flutter Entertainment Stock Down 1.4%
Shares of NYSE:FLUT opened at $93.70 on Friday. The company has a market capitalization of $16.30 billion, a PE ratio of -43.78, a P/E/G ratio of 1.19 and a beta of 1.58. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a twelve month low of $92.02 and a twelve month high of $313.68. The firm has a 50 day simple moving average of $105.79 and a 200-day simple moving average of $160.59.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company's revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. On average, equities 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 authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Flutter Entertainment from $164.00 to $161.00 and set an "equal weight" rating for the company in a research report on Friday, May 8th. Citigroup downgraded shares of Flutter Entertainment from a "buy" rating to a "sell" rating in a research report on Thursday, April 16th. Oppenheimer reduced their price target on shares of Flutter Entertainment from $210.00 to $160.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. Kepler Capital Markets downgraded shares of Flutter Entertainment from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 16th. Finally, UBS Group reduced their price target on shares of Flutter Entertainment from $300.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $189.26.
Read Our Latest Report on Flutter Entertainment
Hedge Funds Weigh In On Flutter Entertainment
Several institutional investors have recently bought and sold shares of FLUT. MassMutual Private Wealth & Trust FSB increased its stake in 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 buying an additional 79 shares during the period. JFS Wealth Advisors LLC acquired a new position in Flutter Entertainment in the 3rd quarter valued at $27,000. Zions Bancorporation National Association UT increased its stake in 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 buying an additional 118 shares during the period. JCIC Asset Management Inc. acquired a new position in Flutter Entertainment in the 3rd quarter valued at $32,000. Finally, Atlantic Union Bankshares Corp acquired a new position in Flutter Entertainment in the 3rd quarter valued at $34,000.
Flutter Entertainment Company Profile
(
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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