Janus Henderson Group PLC Boosts Stake in Flutter Entertainment PLC $FLUT

Janus Henderson Group PLC boosted its position in Flutter Entertainment PLC (NYSE:FLUT) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,601,605 shares of the company’s stock after purchasing an additional 20,810 shares during the period. Janus Henderson Group PLC’s holdings in Flutter Entertainment were worth $163,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Zions Bancorporation National Association UT raised its holdings in shares of Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the period. EFG International AG purchased a new position in Flutter Entertainment during the 4th quarter valued at $36,000. IFP Advisors Inc boosted its holdings in Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after acquiring an additional 90 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after acquiring an additional 75 shares during the last quarter. Finally, LM Advisors LLC bought a new position in Flutter Entertainment in the 4th quarter valued at $46,000.

Flutter Entertainment Trading Up 2.2%

FLUT opened at $104.39 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock’s fifty day moving average is $104.29 and its two-hundred day moving average is $117.08. The company has a market capitalization of $18.16 billion, a P/E ratio of -48.78, a PEG ratio of 1.40 and a beta of 1.31. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping 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 business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the business earned $1.59 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts forecast that Flutter Entertainment PLC will post 4.72 earnings per share for the current year.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, insider Don H. Liu sold 1,259 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total transaction of $117,552.83. Following the transaction, the insider owned 21,006 shares of the company’s stock, valued at approximately $1,961,330.22. This trade represents a 5.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the transaction, the chief executive officer directly owned 74,326 shares in the company, valued at $7,293,610.38. This trade represents a 3.98% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders purchased 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

FLUT has been the subject of several research analyst reports. BNP Paribas Exane initiated coverage on Flutter Entertainment in a research report on Thursday, May 14th. They set an “underperform” rating and a $80.00 target price for the company. Moffett Nathanson cut shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a report on Friday, April 24th. Wells Fargo & Company reduced their price target on shares of Flutter Entertainment from $168.00 to $137.00 and set an “equal weight” rating on the stock in a research note on Monday, July 20th. Benchmark decreased their price objective on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, Wedbush reissued an “outperform” rating and issued a $138.00 price objective on shares of Flutter Entertainment in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.00.

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.