Gabelli Funds LLC Purchases 5,350 Shares of Flutter Entertainment PLC $FLUT

Gabelli Funds LLC increased its position in Flutter Entertainment PLC (NYSE:FLUT) by 184.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,250 shares of the company’s stock after buying an additional 5,350 shares during the quarter. Gabelli Funds LLC’s holdings in Flutter Entertainment were worth $1,774,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FLUT. MML Investors Services LLC boosted its holdings in shares of Flutter Entertainment by 0.6% during the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after purchasing an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Flutter Entertainment by 1.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock valued at $1,030,000 after purchasing an additional 49 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Flutter Entertainment by 5.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock valued at $273,000 after purchasing an additional 58 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Flutter Entertainment by 3.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,305 shares of the company’s stock valued at $564,000 after purchasing an additional 71 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have commented on FLUT. Needham & Company LLC dropped their price objective on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Sanford C. Bernstein dropped their price objective on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Moffett Nathanson downgraded shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price objective for the company. in a report on Friday, April 24th. Wells Fargo & Company decreased their target price on shares of Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Finally, Citizens Jmp decreased their target price on shares of Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating on the stock in a research report 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 company’s 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.

Insiders Place Their Bets

In other news, CEO Daniel Mark Taylor acquired 1,611 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $94.29 per share, with a total value of $151,901.19. Following the completion of the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the sale, the chief executive officer directly owned 74,326 shares of the company’s stock, valued at approximately $7,293,610.38. The trade was a 3.98% 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 quarter, insiders have purchased 10,453 shares of company stock valued at $1,045,526 and have sold 22,306 shares valued at $2,333,598. 0.13% of the stock is currently owned by company insiders.

Flutter Entertainment Stock Up 0.4%

Shares of NYSE FLUT opened at $97.48 on Friday. The firm’s 50-day moving average price is $104.05 and its 200-day moving average price is $155.24. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $16.96 billion, a price-to-earnings ratio of -45.55, a P/E/G ratio of 1.29 and a beta of 1.58. Flutter Entertainment PLC has a 12-month low of $91.52 and a 12-month high of $313.68.

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, topping the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $1.59 earnings per share. On average, equities research analysts anticipate that Flutter Entertainment PLC will post 4.88 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has approved a share buyback program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

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.