Stefan Andreas Bomhard Acquires 500 Shares of Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment PLC (NYSE:FLUT) Director Stefan Andreas Bomhard acquired 500 shares of the business’s stock in a transaction on Friday, May 8th. The shares were purchased at an average price of $102.00 per share, with a total value of $51,000.00. Following the completion of the purchase, the director owned 1,177 shares in the company, valued at $120,054. This represents a 73.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Flutter Entertainment Price Performance

Shares of NYSE FLUT traded up $4.03 during midday trading on Tuesday, hitting $97.99. The stock had a trading volume of 937,060 shares, compared to its average volume of 3,738,396. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 1 year low of $93.56 and a 1 year high of $313.68. The company has a market capitalization of $17.05 billion, a PE ratio of -45.83, a P/E/G ratio of 0.84 and a beta of 1.58. The stock has a 50 day simple moving average of $106.57 and a 200-day simple moving average of $163.84.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating 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 company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm posted $1.59 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, sell-side analysts expect that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has approved a share buyback plan on Wednesday, March 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Flutter Entertainment by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock valued at $4,460,076,000 after purchasing an additional 301,879 shares during the last quarter. Capital International Investors increased its position in shares of 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 purchasing an additional 4,782,302 shares during the last quarter. Cibc World Markets Corp purchased a new stake in Flutter Entertainment in the 4th quarter valued at about $1,678,841,000. Caledonia Private Investments Pty Ltd raised its holdings in Flutter Entertainment by 3.8% in the 4th quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after buying an additional 264,856 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Flutter Entertainment by 33,988.7% in the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after buying an additional 5,589,099 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FLUT shares. Wells Fargo & Company lowered their target price on Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating on the stock in a report on Friday. Truist Financial reduced their price objective on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer lowered their price objective on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Moffett Nathanson cut Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price for the company. in a report on Friday, April 24th. Finally, Needham & Company LLC cut their target price on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $194.23.

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.