Life Cycle Investment Partners Ltd Buys New Stake in Flutter Entertainment PLC $FLUT

Life Cycle Investment Partners Ltd bought a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 116,127 shares of the company’s stock, valued at approximately $24,972,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FLUT. Durable Capital Partners LP lifted its position in Flutter Entertainment by 274.2% during the third quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company’s stock valued at $315,973,000 after acquiring an additional 911,507 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Flutter Entertainment by 112.8% in the third quarter. Marshall Wace LLP now owns 1,354,073 shares of the company’s stock worth $343,935,000 after buying an additional 717,658 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Flutter Entertainment in the third quarter worth $169,777,000. Squarepoint Ops LLC purchased a new position in shares of Flutter Entertainment in the third quarter worth $160,020,000. Finally, SG Americas Securities LLC raised its holdings in shares of Flutter Entertainment by 2,583.5% in the fourth quarter. SG Americas Securities LLC now owns 579,633 shares of the company’s stock worth $124,644,000 after buying an additional 558,033 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FLUT shares. Kepler Capital Markets cut shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Sanford C. Bernstein decreased their price target on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Needham & Company LLC decreased their price target on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, May 7th. UBS Group decreased their price target on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Finally, Truist Financial decreased their price target on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.26.

Flutter Entertainment Stock Up 0.4%

NYSE:FLUT opened at $97.48 on Friday. The firm has a market capitalization of $16.96 billion, a P/E ratio of -45.55, a PEG ratio of 1.29 and a beta of 1.58. Flutter Entertainment PLC has a 1-year low of $91.52 and a 1-year high of $313.68. The company’s fifty day moving average price is $104.05 and its 200-day moving average price is $155.24. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 earnings per share. As a group, equities research analysts anticipate that Flutter Entertainment PLC will post 4.88 EPS for the current year.

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

Insider Transactions at Flutter Entertainment

In other news, insider Don H. Liu sold 1,259 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total value of $117,552.83. Following the sale, the insider owned 21,006 shares in the company, valued at $1,961,330.22. This represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Carolan Lennon acquired 520 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average price of $92.30 per share, for a total transaction of $47,996.00. Following the purchase, the director directly owned 2,127 shares of the company’s stock, valued at approximately $196,322.10. This trade represents a 32.36% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 10,453 shares of company stock valued at $1,045,526 and have sold 22,306 shares valued at $2,333,598. 0.13% of the stock is owned by insiders.

Flutter Entertainment Company Profile

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.