A large, concentrated open-market buy cluster by a 10% owner in a falling stock is a historically strong contrarian signal. Traders should watch for a potential stock bottom or near-term mean reversion. With several cross-filing amplifiers (cluster+earnings, cluster+press context) active, a bounce in the next 5-20 sessions is plausible. Monitor for any upcoming catalyst (earnings, M&A, or corporate event) that this insider may be anticipating.
Price Chart
Executive Summary
A 10% owner, Kenneth Bryan Dart, made three open-market purchases totaling $48.7M over May 18-20, 2026 (279K shares at ~$96.85 on the 20th, 172K at ~$97.93 on the 19th, 51K at ~$95.56 on the 18th). This buy cluster from a major insider at ~0.3% of market cap is a notable bullish signal in the context of prior insider selling and recent stock weakness. The selling by the Chief Legal Officer ($118K, pre-blackout window) is routine in size and is offset by the much larger buy activity.
Key Financial Metrics
Key Facts
- Kenneth Bryan Dart (10% owner) purchased 501,442 shares total in three open-market trades: May 18 (50,633 @ $95.56), May 19 (171,649 @ $97.93), and May 20 (279,160 @ $96.85). Total consideration: ~$48.7M.
- Chief Legal Officer Don H. Liu sold 1,258 shares on May 13 at $93.37 for $118K — a routine, small-dollar transaction.
- The $48.7M buy cluster represents approximately 0.29% of Flutter's $17.0B market cap, exceeding the 0.1% materiality threshold.
- This is a cluster of open-market buys, with the highest possible informational value per academic literature (C-suite/10% owner accumulation).
- The buying occurred during a period of significant stock weakness: recent T+20 reports for FLUT show an average decline of -12.88% relative to prior calls.
Financial Impact
$48.7M in aggregate insider purchases by a 10% owner, representing ~0.29% of market cap.
Risk Factors
- Insider buys are not an infallible signal — the stock has underperformed recently, and historical T+20 outcomes on FLUT-related calls show negative alpha.
- The selling by the CLO, while small, could indicate that insiders with more granular operating knowledge are reducing exposure.
- Dart may be accumulating for board control or strategic reasons unrelated to a near-term stock catalyst.
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-1779481069812 |
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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