Insider Selling: Flutter Entertainment plc (NYSE:FLUT) Director Sells 430 Shares of Stock

Flutter Entertainment plc (NYSE:FLUT) Director Carolan Lennon sold 430 shares of Flutter Entertainment stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $105,655.30. Following the completion of the sale, the director now directly owns 769 shares of the company’s stock, valued at approximately $188,950.99. The trade was a 35.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Flutter Entertainment Price Performance

NYSE FLUT opened at $249.61 on Monday. The business’s fifty day moving average is $236.90 and its 200 day moving average is $253.69. Flutter Entertainment plc has a fifty-two week low of $174.03 and a fifty-two week high of $299.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $44.10 billion and a PE ratio of 86.37.

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

Wall Street Analyst Weigh In

FLUT has been the topic of several recent analyst reports. Peel Hunt raised Flutter Entertainment from a “hold” rating to an “add” rating in a research report on Monday, March 10th. Truist Financial dropped their price target on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research note on Wednesday, March 5th. Wells Fargo & Company increased their price objective on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus dropped their target price on shares of Flutter Entertainment from $320.00 to $315.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $303.79.

Institutional Investors Weigh In On Flutter Entertainment

A number of institutional investors have recently bought and sold shares of FLUT. Harvest Fund Management Co. Ltd bought a new position in shares of Flutter Entertainment in the fourth quarter worth about $25,000. Farther Finance Advisors LLC lifted its holdings in Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock worth $25,000 after purchasing an additional 82 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its stake in Flutter Entertainment by 1,375.0% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock worth $26,000 after purchasing an additional 110 shares during the period. SVB Wealth LLC purchased a new stake in Flutter Entertainment during the 1st quarter valued at approximately $27,000. Finally, Parallel Advisors LLC grew its holdings in Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock valued at $30,000 after buying an additional 60 shares in the last quarter.

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.