Flutter Entertainment (NYSE:FLUT) CFO Sells $69,480.60 in Stock

Flutter Entertainment PLC (NYSE:FLUT) CFO Robert Coldrake sold 710 shares of Flutter Entertainment stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $69,480.60. Following the sale, the chief financial officer owned 22,778 shares of the company’s stock, valued at approximately $2,229,055.08. This represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flutter Entertainment Stock Down 0.0%

NYSE:FLUT traded down $0.05 during mid-day trading on Thursday, reaching $101.93. The stock had a trading volume of 673,628 shares, compared to its average volume of 3,350,201. The stock has a market cap of $17.69 billion, a P/E ratio of -23.68, a PEG ratio of 2.46 and a beta of 1.26. The business’s 50 day moving average is $102.61 and its 200 day moving average is $104.92. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. Flutter Entertainment PLC has a fifty-two week low of $89.71 and a fifty-two week high of $297.23.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. Flutter Entertainment’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 earnings per share. As a group, sell-side analysts predict that Flutter Entertainment PLC will post 3.48 earnings per share for the current year.

Wall Street Analyst Weigh In

FLUT has been the subject of several analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, July 8th. Wells Fargo & Company cut their target price on Flutter Entertainment from $137.00 to $112.00 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. Barclays reduced their price target on Flutter Entertainment from $151.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. BTIG Research decreased their price target on Flutter Entertainment from $120.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $180.00 price objective on shares of Flutter Entertainment in a research note on Sunday, August 9th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $156.88.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of FLUT. Parvus Asset Management Jersey Ltd bought a new position in shares of Flutter Entertainment during the 2nd quarter worth about $1,552,097,267. Capital International Investors lifted its stake in shares of Flutter Entertainment by 146.8% in the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after buying an additional 4,782,302 shares during the period. Cibc World Markets Corp acquired a new stake in Flutter Entertainment during the fourth quarter worth about $1,678,841,000. Caledonia Private Investments Pty Ltd increased its stake in Flutter Entertainment by 3.8% during the fourth quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after acquiring an additional 264,856 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Flutter Entertainment by 33,988.7% during the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after acquiring an additional 5,589,099 shares during the period.

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.