Director Lennon Carolan's first open-market purchase in 3 years adds 520 shares as stock trades well below 52-week highs amid broader insider buying wave.
Lennon Carolan, a director at Flutter Entertainment, executed his first open-market purchase in over three years, acquiring 520 shares during a period when the stock trades significantly below its 52-week high. This marks a regime change for Carolan, who previously sold shares on the open market but has now returned to buying, suggesting a willingness to accumulate at current valuations. The purchase occurred within a broader cluster of insider buying activity across the company, with seven insiders buying within a two-week window. The company's fundamentals are mixed—revenues are growing robustly, but recent losses indicate ongoing profitability challenges—making this purchase during a period of stock weakness potentially meaningful. Carolan is buying into a company that has seen sustained pressure over the past several months, down significantly from its 52-week high and continuing to decline.