WINTON GROUP Ltd Trims Position in Flutter Entertainment PLC $FLUT

WINTON GROUP Ltd decreased its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 35.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,183 shares of the company’s stock after selling 9,482 shares during the period. WINTON GROUP Ltd’s holdings in Flutter Entertainment were worth $1,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 acquiring an additional 69 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Flutter Entertainment in the second quarter valued at approximately $405,000. Creative Planning purchased a new stake in shares of Flutter Entertainment during the second quarter worth approximately $296,000. Northwestern Mutual Wealth Management Co. raised 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 worth $53,000 after purchasing an additional 133 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 worth $71,000 after purchasing an additional 106 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FLUT shares. JPMorgan Chase & Co. initiated coverage on shares of Flutter Entertainment in a research note on Wednesday, August 12th. They issued a “neutral” rating and a $114.00 price objective on the stock. Citizens Jmp dropped their price target on shares of Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 8th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Flutter Entertainment in a research report on Thursday, September 3rd. Wolfe Research initiated coverage on shares of Flutter Entertainment in a research note on Wednesday, September 2nd. They set an “outperform” rating and a $150.00 price target on the stock. Finally, BTIG Research cut their price target on shares of Flutter Entertainment from $120.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $156.88.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $100.58 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The firm has a market cap of $17.46 billion, a price-to-earnings ratio of -23.39, a price-to-earnings-growth ratio of 2.50 and a beta of 1.26. The company’s 50-day moving average is $102.16 and its two-hundred day moving average is $103.89. Flutter Entertainment PLC has a 12-month low of $89.71 and a 12-month high of $289.60.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.95 EPS. Research analysts expect that Flutter Entertainment PLC will post 3.48 EPS for the current year.

Insider Buying and Selling at Flutter Entertainment

In other news, COO James Bishop sold 741 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $72,514.26. Following the transaction, the chief operating officer directly owned 16,864 shares in the company, valued at $1,650,311.04. This represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Coldrake sold 710 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $69,480.60. Following the completion of the sale, the chief financial officer directly owned 22,778 shares in the company, valued at $2,229,055.08. This represents a 3.02% decrease in their ownership of the stock. 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 ninety days, insiders have sold 6,681 shares of company stock valued at $644,214. 0.13% of the stock is currently owned by insiders.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter’s portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.