Atom Investors LP Makes New $6.13 Million Investment in Flutter Entertainment PLC $FLUT

Atom Investors LP purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) during the fourth quarter, Holdings Channel reports. The fund purchased 28,495 shares of the company’s stock, valued at approximately $6,128,000.

A number of other large investors also recently added to or reduced their stakes in the company. MML Investors Services LLC lifted its stake in Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after purchasing an additional 45 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in Flutter Entertainment by 1.2% during the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after purchasing an additional 49 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Flutter Entertainment by 5.7% during the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after purchasing an additional 58 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in Flutter Entertainment by 2.8% during the fourth quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock worth $560,000 after purchasing an additional 72 shares in the last quarter.

Wall Street Analysts Forecast Growth

FLUT has been the topic of a number of research reports. Moffett Nathanson cut Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a research note on Friday, April 24th. Wedbush assumed coverage on Flutter Entertainment in a research note on Monday. They issued an “outperform” rating and a $138.00 price objective on the stock. Citizens Jmp reduced their price objective on Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 7th. Kepler Capital Markets cut Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Finally, BNP Paribas Exane assumed coverage on Flutter Entertainment in a research note on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.42.

Flutter Entertainment Stock Down 0.1%

Shares of NYSE FLUT opened at $108.92 on Wednesday. The stock has a market cap of $18.95 billion, a P/E ratio of -50.90, a PEG ratio of 1.41 and a beta of 1.40. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 12-month low of $91.52 and a 12-month high of $313.68. The business’s fifty day simple moving average is $103.35 and its 200-day simple moving average is $142.26.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data 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. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $1.59 earnings per share. As a group, equities analysts predict that Flutter Entertainment PLC will post 5 EPS for the current fiscal year.

Flutter Entertainment declared that its board has approved a stock repurchase plan on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, insider Don H. Liu bought 1,459 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average price of $102.78 per share, with a total value of $149,956.02. Following the completion of the acquisition, the insider directly owned 22,265 shares of the company’s stock, valued at $2,288,396.70. This represents a 7.01% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel Mark Taylor bought 1,611 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the acquisition, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at $3,260,925.36. The trade was a 4.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. 0.13% of the stock is owned by corporate 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.