Flutter Entertainment PLC $FLUT Position Lessened by Capital Research Global Investors

Capital Research Global Investors decreased its stake in Flutter Entertainment PLC (NYSE:FLUT) by 15.7% during the 4th quarter, HoldingsChannel reports. The firm owned 5,399,277 shares of the company’s stock after selling 1,007,168 shares during the period. Capital Research Global Investors’ holdings in Flutter Entertainment were worth $1,161,096,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in FLUT. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. JFS Wealth Advisors LLC bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth approximately $27,000. Atlantic Union Bankshares Corp bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth approximately $34,000. IFP Advisors Inc lifted its holdings in shares of Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after purchasing an additional 90 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after purchasing an additional 75 shares during the last quarter.

Insider Activity at Flutter Entertainment

In other news, Director John A. Bryant purchased 1,950 shares of the stock in a transaction dated Friday, May 8th. The shares were bought at an average cost of $102.86 per share, for a total transaction of $200,577.00. Following the transaction, the director owned 9,235 shares in the company, valued at $949,912.10. This trade represents a 26.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Amy Howe sold 8,895 shares of Flutter Entertainment stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total value of $942,069.45. Following the transaction, the chief executive officer owned 78,889 shares in the company, valued at approximately $8,355,133.99. This trade represents a 10.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 10,453 shares of company stock worth $1,045,526 and sold 23,828 shares worth $2,477,625. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Benchmark cut their target price on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Wells Fargo & Company cut their target price on Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Canaccord Genuity Group cut their target price on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price on the stock. in a research note on Friday, April 24th. Finally, Barclays cut their target price on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.26.

Flutter Entertainment Stock Down 0.2%

Shares of Flutter Entertainment stock opened at $100.62 on Friday. Flutter Entertainment PLC has a 1-year low of $91.52 and a 1-year high of $313.68. The company has a market capitalization of $17.50 billion, a P/E ratio of -47.02, a PEG ratio of 1.33 and a beta of 1.40. The business’s fifty day moving average price is $102.40 and its two-hundred day moving average price is $146.73. 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 issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the firm earned $1.59 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, research analysts forecast that Flutter Entertainment PLC will post 4.88 EPS for the current year.

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

Flutter Entertainment 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.