James Philip Bishop Sells 3,000 Shares of Flutter Entertainment plc (NYSE:FLUT) Stock

Flutter Entertainment plc (NYSE:FLUT) COO James Philip Bishop sold 3,000 shares of Flutter Entertainment stock in a transaction on Friday, May 9th. The stock was sold at an average price of $243.20, for a total value of $729,600.00. Following the sale, the chief operating officer now owns 4,712 shares in the company, valued at $1,145,958.40. The trade was a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Flutter Entertainment Stock Down 2.2%

FLUT stock opened at $241.83 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $42.73 billion and a PE ratio of 83.68. Flutter Entertainment plc has a twelve month low of $174.03 and a twelve month high of $299.73. The stock has a 50-day simple moving average of $233.25 and a two-hundred day simple moving average of $253.81.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.30). The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities analysts predict that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its holdings in Flutter Entertainment by 1.5% during the 1st quarter. Northern Trust Corp now owns 617,311 shares of the company’s stock valued at $136,765,000 after buying an additional 8,854 shares in the last quarter. Corient IA LLC purchased a new position in shares of Flutter Entertainment during the first quarter worth about $693,000. Cambiar Investors LLC purchased a new position in shares of Flutter Entertainment during the first quarter worth about $11,078,000. Kids Capital Management L.P. purchased a new position in shares of Flutter Entertainment during the first quarter worth about $1,662,000. Finally, American Century Companies Inc. grew its holdings in shares of Flutter Entertainment by 122.1% during the first quarter. American Century Companies Inc. now owns 2,601 shares of the company’s stock worth $576,000 after purchasing an additional 1,430 shares in the last quarter.

Analyst Ratings Changes

FLUT has been the topic of a number of recent analyst reports. JMP Securities lowered their target price on Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lifted their target price on Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Benchmark reiterated a “buy” rating and set a $300.00 target price on shares of Flutter Entertainment in a research note on Monday, April 21st. Citizens Jmp lowered their target price on Flutter Entertainment from $328.00 to $317.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Peel Hunt upgraded Flutter Entertainment from a “hold” rating to an “add” rating in a research note on Monday, March 10th. Twenty equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment has a consensus rating of “Buy” and a consensus price target of $306.28.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.