Kenneth Dart's $108M purchase is a strong bullish signal from a sophisticated 10% owner, but the lack of broad C-suite buying and the lowered EBITDA guidance create tension. Monitor for additional insider filings over the next 2 weeks — if other executives follow Dart, the signal strengthens. The stock's reaction to the mixed earnings (beat vs. guidance cut) will determine near-term entry points.
Price Chart
Executive Summary
A significant insider buying cluster at Flutter Entertainment, led by 10% owner Kenneth Dart with $108M in open-market purchases over two days, occurred just 9 days after Q1 earnings that beat EPS by 41% but lowered full-year EBITDA guidance. The buying is heavily concentrated in one large holder (Dart), with C-suite and director purchases totaling only ~$450K — the cluster's signal is dominated by Dart's conviction rather than broad insider alignment. The earnings context (strong beat + guidance cut) creates a mixed backdrop, but the sheer dollar magnitude of Dart's purchases (0.66% of market cap) is material and bullish.
Key Financial Metrics
Key Facts
- 10% owner Kenneth Dart purchased 1.118M shares for $108.1M on May 12-13, 2026, representing 0.66% of FLUT's $16.4B market cap
- Total insider buying in the cluster was $108.5M, dwarfing selling of $420K — a 258:1 buy-to-sell dollar ratio
- Q1 2026 earnings (May 6) showed 17% revenue growth to $4.304B and GAAP EPS of $1.23 beating $0.87 consensus by 41%, but net income fell 38% YoY and full-year adjusted EBITDA guidance was cut from $2.97B to $2.865B
- C-suite and director purchases outside Dart totaled only ~$450K — the cluster is not broadly diversified across management
- The cross-filing actuarial verdicts show cluster-insider-trades + cluster-earnings-context as an AMPLIFIER (PMI=2.11, q=0.000), supporting an elevated impact score
- Historical performance on FLUT reports shows poor T+20 outcomes (avg -8.1%, 33% win rate), but prior reports were all neutral — this is the first directional cluster
Financial Impact
Insider buying of $108.5M (0.66% of market cap) concentrated in one 10% owner, with minimal C-suite participation
Risk Factors
- Guidance cut for full-year 2026 EBITDA may weigh on sentiment despite the EPS beat
- Dart's purchases could be pre-planned or part of a larger accumulation strategy rather than a reaction to near-term catalysts
- Historical FLUT reports show poor T+20 performance (avg -8.1%), though none were directional bullish calls
- The cluster is not broadly diversified — only one large buyer dominates, reducing the signal's reliability
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-FLUT-1778878976252 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 21, 2026 11d ago | ANALYST-DOWNGRADE | $86.86 $76.63 | ▲ +11.78% | ▲ +11.50% | $74.81 (+13.87%) |
Sep 3, 2026 29d ago | Insider Cluster | $102.34 $100.56 | ▼ −1.74% | ▼ −0.59% | $74.81 (−26.90%) |
Sep 3, 2026 29d ago | Insider Cluster | $102.34 $100.56 | ▼ −1.74% | ▼ −0.59% | $74.81 (−26.90%) |
Sep 2, 2026 4w ago | ANALYST-UPGRADE | $101.98 $98.68 | ▼ −3.24% | ▼ −2.28% | $74.81 (−26.64%) |
Aug 20, 2026 6w ago | Insider Cluster | $99.57 $95.01 | ▼ −4.58% | ▼ −5.69% | $74.81 (−24.87%) |
Aug 12, 2026 7w ago | ANALYST-UPGRADE | $98.08 $99.16 | ▲ +1.10% | ▲ +1.55% | $74.81 (−23.73%) |
Aug 7, 2026 8w ago | ANALYST-UPGRADE | $94.74 $101.41 | ▲ +7.04% | ▲ +6.64% | $74.81 (−21.04%) |
Aug 5, 2026 8w ago | 8-K | $92.91 $98.08 | ▼ −5.56% | ▼ −5.21% | $74.81 (+19.48%) |
Aug 5, 2026 8w ago | 8-K | $92.91 $98.08 | ▲ +5.56% | ▲ +5.21% | $74.81 (−19.48%) |
Aug 5, 2026 8w ago | Press Release | $92.91 $98.08 | ▼ −5.56% | ▼ −5.21% | $74.81 (+19.48%) |
US Market Status
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