In a recent filing with the Securities and Exchange Commission, Flutter (LON:FLTRF) Entertainment plc (NYSE:FLUT) disclosed transactions in company securities by its managerial staff. The announcement, made today, is in accordance with the United Kingdom (TADAWUL:4280) Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
The disclosure, detailed in an announcement via the Regulatory News Service in London, pertains to the buying and selling of Flutter Entertainment's ordinary shares by individuals in managerial roles. The company, which operates in the computer programming and data processing sector, is headquartered in New York with a fiscal year ending on December 31.
With impressive returns of over 78% in the past year, Flutter has demonstrated strong momentum across multiple timeframes. For deeper insights into Flutter's valuation and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers exclusive access to over 15 additional ProTips and detailed financial metrics.
Flutter Entertainment, formerly known as Stars Group Inc. and Amaya Inc., has undergone previous name changes, with the most recent occurring on July 31, 2017. The company's ordinary shares are listed on the New York Stock Exchange under the trading symbol FLUT, with a nominal value of €0.09 per share.
The specific nature of the transactions, including the number of shares bought or sold and the prices at which these transactions occurred, was not detailed in the summary provided. However, such disclosures are typically made to ensure transparency regarding the financial dealings of company insiders and to inform investors of potential changes in ownership that could impact the company's stock performance.
Notably, Flutter's current trading price is hovering near its 52-week high, with the stock currently trading at $282.26. Investors seeking detailed valuation analysis and comprehensive research reports can find them exclusively on InvestingPro, where expert insights help transform complex financial data into actionable intelligence.
In other recent news, Flutter Entertainment has reported a significant 27% year-over-year increase in Q3 revenue, reaching $3.25 billion, largely fueled by a 51% surge in U.S. operations revenue. This robust performance led to an upward revision of its full-year 2024 guidance, now expecting a group revenue of $14.25-$14.55 billion and an adjusted EBITDA between $2.44-$2.62 billion. The company's adjusted earnings per share outperformed the projected loss, coming in at $0.43.
In response to these developments, analysts from Goldman Sachs (NYSE:GS), Craig-Hallum, and Needham have maintained a Buy rating for Flutter and adjusted their price targets. Goldman Sachs initiated coverage with a price target of $320, while Craig-Hallum and Needham raised their targets to $350 and $300 respectively.
In a strategic move, Flutter Entertainment announced the initiation of a share repurchase program, involving the buyback of up to $350 million worth of its ordinary shares, as part of a larger $5 billion program managed by Goldman Sachs & Co LLC.
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