Stableford Capital II LLC Has $2.40 Million Holdings in Flutter Entertainment PLC $FLUT

Stableford Capital II LLC boosted its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 272.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,149 shares of the company’s stock after purchasing an additional 8,156 shares during the period. Stableford Capital II LLC’s holdings in Flutter Entertainment were worth $2,397,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Flutter Entertainment by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock worth $4,460,076,000 after acquiring an additional 301,879 shares during the period. Parvus Asset Management Jersey Ltd bought a new position in Flutter Entertainment in the second quarter valued at approximately $2,231,266,000. Wellington Management Group LLP increased its stake in Flutter Entertainment by 5.5% in the third quarter. Wellington Management Group LLP now owns 3,519,434 shares of the company’s stock valued at $903,694,000 after acquiring an additional 182,594 shares during the last quarter. Capital International Investors raised its position in Flutter Entertainment by 4.9% during the third quarter. Capital International Investors now owns 3,256,764 shares of the company’s stock valued at $827,841,000 after purchasing an additional 153,390 shares in the last quarter. Finally, Norges Bank bought a new stake in Flutter Entertainment during the second quarter worth $930,349,000.

Flutter Entertainment Trading Up 0.2%

NYSE FLUT opened at $103.60 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. Flutter Entertainment PLC has a twelve month low of $99.96 and a twelve month high of $313.68. The company has a market cap of $18.16 billion, a price-to-earnings ratio of -57.56, a price-to-earnings-growth ratio of 0.70 and a beta of 2.30. The business’s fifty day moving average is $133.77 and its 200 day moving average is $198.83.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.Flutter Entertainment’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.94 EPS. As a group, sell-side analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 4,326 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total value of $467,208.00. Following the completion of the transaction, the chief executive officer owned 36,788 shares in the company, valued at $3,973,104. This trade represents a 10.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Coldrake sold 4,613 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total transaction of $491,053.85. Following the sale, the chief financial officer directly owned 10,006 shares in the company, valued at $1,065,138.70. The trade was a 31.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 17,834 shares of company stock worth $1,900,331. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FLUT shares. Kepler Capital Markets downgraded Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research report on Monday, January 5th. Morgan Stanley reduced their price objective on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Bank of America lowered their target price on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, January 22nd. Finally, Susquehanna reissued a “positive” rating and issued a $228.00 target price on shares of Flutter Entertainment in a report on Tuesday, January 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.50.

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.