Flutter Entertainment plc (NYSE:FLUT), a leader in computer programming and data processing services, announced the appointment of two new non-executive directors to its Board, effective July 30, 2024. Robert R. Bennett and Christine M. McCarthy will join the Board, bringing extensive experience from their respective fields.
Bennett, 66, is the Managing Director at Hilltop Investments, LLC, and has a background in media and entertainment, including roles as President of Discovery (NASDAQ:WBD) Holding Company and CEO at Liberty Media Corporation. He has also served on several other company boards, including HP Inc (NYSE:HPQ). and Liberty Media.
McCarthy, 69, previously held the position of Senior Executive Vice President and CFO at The Walt Disney Company (NYSE:DIS) until June 2023 and has since served as a Strategic Advisor. Her prior experience includes roles of increasing responsibility at Disney and as CFO of Imperial Bancorp. McCarthy is also a director at The Procter & Gamble Company (NYSE:PG) and FM Global.
Both appointees are considered independent according to the New York Stock Exchange listing standards. Bennett will join the Risk and Sustainability Committee, and McCarthy will serve on the Audit Committee.
This announcement, made on Monday, is based on an SEC filing.
In other recent news, Susquehanna adjusted its price target on Flutter Entertainment shares to $235 from $249, maintaining a Positive rating. The firm cited anticipated lower valuation multiples in the company's US segment due to increased taxes in Illinois. However, they remained optimistic about the company's performance in the United Kingdom and Ireland.
Wells Fargo adjusted its price target on Flutter Entertainment's shares to $212 from $210, maintaining an Equal Weight rating. The revision followed the company's adjusted EBITDA, which surpassed both the analyst's and the Street's expectations. The improved figures were attributed to performance outside the United States compensating for a shortfall in the U.S. market.
Berenberg reaffirmed a 'Buy' rating on Flutter Entertainment stock, with a steady price target of GBP186.00, highlighting the company's diversified operations as a buffer against regulatory and taxation risks. Finally, BTIG adjusted its price target for Flutter Entertainment shares to $245.00 from $242.00 while maintaining a Buy rating, following the company's first-quarter financial results.
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