Perpetual Ltd Grows Stock Position in Flutter Entertainment PLC $FLUT

Perpetual Ltd grew its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 963,249 shares of the company’s stock after acquiring an additional 33,373 shares during the quarter. Flutter Entertainment accounts for approximately 3.0% of Perpetual Ltd’s investment portfolio, making the stock its 7th largest position. Perpetual Ltd owned 0.55% of Flutter Entertainment worth $207,137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Flutter Entertainment in the 2nd quarter valued at approximately $405,000. Creative Planning acquired a new stake in Flutter Entertainment in the second quarter valued at approximately $296,000. Franklin Resources Inc. grew its stake in shares of Flutter Entertainment by 6.5% during the second quarter. Franklin Resources Inc. now owns 6,203 shares of the company’s stock worth $1,773,000 after buying an additional 377 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Flutter Entertainment during the second quarter worth $1,131,000.

Flutter Entertainment Stock Up 0.1%

Shares of NYSE:FLUT opened at $106.47 on Friday. Flutter Entertainment PLC has a 1 year low of $98.88 and a 1 year high of $313.68. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50-day moving average is $124.16 and its 200-day moving average is $191.16. The company has a market capitalization of $18.66 billion, a price-to-earnings ratio of -59.15, a P/E/G ratio of 0.72 and a beta of 1.93.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Friday, February 27th. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same period in the prior year, the business earned $2.94 EPS. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has approved a stock buyback plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Texas Capital upgraded shares of Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. Citizens Jmp cut their price objective on Flutter Entertainment from $275.00 to $195.00 and set a “market outperform” rating on the stock in a report on Friday, February 27th. Needham & Company LLC reduced their price objective on Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. UBS Group lowered their target price on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Finally, Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $223.25.

Insider Transactions at Flutter Entertainment

In related news, CFO Robert Coldrake sold 4,613 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total transaction of $491,053.85. Following the transaction, the chief financial officer directly owned 10,006 shares of the company’s stock, valued at $1,065,138.70. This represents a 31.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amy Howe sold 8,895 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total transaction of $942,069.45. Following the completion of the sale, the chief executive officer owned 78,889 shares of the company’s stock, valued at $8,355,133.99. The trade was a 10.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 17,834 shares of company stock valued at $1,900,331 in the last quarter. 0.09% of the stock is currently owned by company insiders.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.