Y Intercept Hong Kong Ltd Boosts Position in Flutter Entertainment PLC $FLUT

Y Intercept Hong Kong Ltd grew its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 121.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,572 shares of the company’s stock after buying an additional 34,367 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Flutter Entertainment were worth $6,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 valued at $290,000 after acquiring an additional 69 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Flutter Entertainment in the 2nd quarter worth approximately $405,000. Creative Planning purchased a new stake in Flutter Entertainment in the 2nd quarter worth approximately $296,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after purchasing an additional 133 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Flutter Entertainment by 74.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after purchasing an additional 106 shares during the period.

Insider Activity

In other news, 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 bought at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the transaction, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at $3,260,925.36. This represents a 4.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Don H. Liu sold 1,259 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total value of $117,552.83. Following the completion of the sale, the insider directly owned 21,006 shares of the company’s stock, valued at approximately $1,961,330.22. This represents a 5.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have purchased 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 currently owned by company insiders.

Wall Street Analyst Weigh In

FLUT has been the topic of several research analyst reports. UBS Group decreased their price target on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Sanford C. Bernstein reduced their target price on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a research report on Thursday, May 7th. Freedom Capital upgraded Flutter Entertainment to a “hold” rating in a research report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $167.00 target price on shares of Flutter Entertainment in a research note on Friday, May 8th. Finally, Oppenheimer lowered their price target on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.42.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $106.04 on Friday. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $18.45 billion, a P/E ratio of -49.55, a price-to-earnings-growth ratio of 1.37 and a beta of 1.31. The firm’s fifty day moving average price is $101.93 and its 200-day moving average price is $132.74.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion during 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 firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.59 earnings per share. On average, equities research analysts expect that Flutter Entertainment PLC will post 5 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized a share buyback program on Wednesday, March 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is 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.