Flutter Entertainment’s officer Bishop sells $536k in shares

On August 11, James Philip Bishop, an officer at Flutter Entertainment PLC (EXCHANGE:FLUT), sold 1,904 ordinary shares of the company. The sales were executed in two separate transactions, fetching a total of $536,246. The transaction comes as Flutter, currently valued at $50.7 billion, has delivered an impressive 53.47% return over the past year, according to InvestingPro data.

The shares were sold at prices ranging from $281.09 to $282.24. Specifically, 990 shares were sold at a price of $281.09 each and 914 shares were sold at a price of $282.24 each. The stock currently trades at $293.72, above its Fair Value based on InvestingPro analysis, which shows the company maintains a GOOD overall financial health score.

On the same day, Bishop also exercised options to acquire a total of 1,904 ordinary shares at a price of $0. For deeper insights into Flutter’s valuation and 13 additional ProTips, including growth forecasts and analyst recommendations, check out the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Flutter Entertainment reported strong second-quarter earnings, with revenue and EBITDA growing 16% and 25% year-over-year to $4.19 billion and $919 million, respectively. These figures exceeded consensus estimates, showcasing the company’s robust operating leverage. Several analyst firms have responded positively to these results. Macquarie raised its price target for Flutter to $340, maintaining an Outperform rating, while Benchmark increased its target to $365, keeping a Buy rating. UBS also adjusted its price target to $360, citing better-than-expected quarterly results and maintaining a Buy rating. Stifel joined in, raising its price target to $356, noting an 18% beat on adjusted EBITDA due to favorable U.S. sports outcomes. Bernstein SocGen also increased its target to $340, describing the results as a "clean beat, clean raise," with FanDuel highlighted as a key growth driver. These developments indicate a positive reception from analysts following Flutter’s latest financial performance.

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