Flutter entertainment director sells shares worth $7.54 million

Flutter Entertainment plc (LSE:FLUT), a $40.79 billion market cap gaming company, saw director Jeremy Peter Jackson execute a series of stock transactions, according to a filing with the Securities and Exchange Commission. On March 6 and 7, Jackson sold a total of 38,923 ordinary shares at prices ranging from $252.76 to $264.42 per share, amounting to approximately $7.54 million. The sales come as the stock has declined about 8.5% over the past week, according to InvestingPro data.

The transactions also included several acquisitions of shares through the exercise of options and restricted stock units, although these were executed at no cost. Following these transactions, Jackson holds 20,993 shares directly. InvestingPro analysis shows Flutter trades at relatively high valuation multiples, with 11 additional key insights available to subscribers.

Investors often monitor insider transactions for potential insights into the company’s future prospects, although such activity can occur for a variety of reasons unrelated to the company’s performance. Looking ahead, analysts have revised earnings estimates upward for the upcoming period, and net income is expected to grow this year, according to InvestingPro’s comprehensive analysis available in the Pro Research Report.

In other recent news, Flutter Entertainment has reported a strong financial performance for the year 2024, with a notable 19% increase in revenue and a 26% rise in adjusted earnings before interest, taxes, depreciation, and amortization (AEBITDA). This growth was largely driven by the rapid expansion of its U.S. operations. Following these results, Benchmark analysts raised their price target for Flutter to $300, maintaining a Buy rating. Similarly, Citizens JMP increased their target to $328, also maintaining a Market Outperform rating, highlighting Flutter’s market share gains in the iGaming and sports betting sectors.

Stifel analysts reiterated a Buy rating with a $320 target, noting the company’s fiscal year 2025 guidance aligns with market expectations despite potential tax hikes. BTIG analysts also maintained a Buy rating with a $323 price target, emphasizing Flutter’s FanDuel segment performance and potential growth in the U.S. market. In addition to these positive earnings and analyst ratings, Flutter Entertainment announced a share repurchase program, signaling confidence in its financial stability and future prospects.

The company is also preparing for new market entries, including sports betting launches in Missouri and potentially Alberta, alongside acquisitions in Brazil and Italy. These strategic moves are expected to bolster Flutter’s international presence. Flutter’s recent developments, including its strong earnings and strategic initiatives, have drawn positive attention from various analyst firms, reflecting confidence in the company’s growth trajectory.

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