Flutter Entertainment Stock Falls 7% On $245 Mln Share Buyback Announcement

(RTTNews) - Flutter Entertainment plc (FLUT) shares dropped 7.37 percent to $283.52, down $22.55 on Friday, after the company announced a new share repurchase program. The online sports betting and iGaming operator said it will buy back up to $245 million worth of ordinary shares on the New York Stock Exchange between October 1 and December 31, 2025, as the fourth tranche of its multi-year $5 billion buyback initiative.

The stock opened at $291.61 and has traded between $276.86 and $293.80 so far today, with volume reaching 4.2 million shares, above the average of 2.6 million on the New York Stock Exchange.

Over the past year, the stock has traded between $183.18 and $313.68. The company expects to return around $1 billion to shareholders through its buyback program in 2025.