Capital International Investors Raises Position in Flutter Entertainment PLC $FLUT

Capital International Investors boosted its stake in Flutter Entertainment PLC (NYSE:FLUT) by 146.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,039,066 shares of the company’s stock after buying an additional 4,782,302 shares during the period. Capital International Investors’ holdings in Flutter Entertainment were worth $1,728,772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Flutter Entertainment during the second quarter valued at approximately $405,000. Creative Planning bought a new position in shares of Flutter Entertainment during the second quarter valued at approximately $296,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Flutter Entertainment by 246.3% during the second 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 in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Flutter Entertainment by 74.6% during the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after purchasing an additional 106 shares in the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of analyst reports. Citigroup downgraded shares of Flutter Entertainment from a “buy” rating to a “sell” rating in a research note on Thursday, April 16th. BNP Paribas Exane initiated coverage on shares of Flutter Entertainment in a research note on Thursday, May 14th. They set an “underperform” rating and a $80.00 target price for the company. UBS Group decreased their target price on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Canaccord Genuity Group decreased their target price on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Benchmark decreased their target price on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Two research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $189.26.

Insider Activity at Flutter Entertainment

In related news, CEO Daniel Mark Taylor acquired 1,611 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the completion of the transaction, the chief executive officer directly owned 34,584 shares in the company, valued at approximately $3,260,925.36. This trade represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Bryant acquired 1,950 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $102.86 per share, for a total transaction of $200,577.00. Following the transaction, the director owned 9,235 shares of the company’s stock, valued at $949,912.10. This trade represents a 26.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 10,453 shares of company stock valued at $1,045,526 and have sold 23,828 shares valued at $2,477,625. 0.13% of the stock is currently owned by company insiders.

Flutter Entertainment Trading Down 0.2%

NYSE:FLUT opened at $100.62 on Friday. The company’s 50 day moving average price is $102.40 and its 200-day moving average price is $146.73. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68. 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 has a market cap of $17.50 billion, a price-to-earnings ratio of -47.02, a PEG ratio of 1.33 and a beta of 1.40.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities research analysts forecast that Flutter Entertainment PLC will post 4.88 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a share buyback plan on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.