Dynamic Technology Lab Private Ltd Makes New Investment in Flutter Entertainment PLC $FLUT

Dynamic Technology Lab Private Ltd acquired a new stake in Flutter Entertainment PLC (NYSE:FLUT) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 5,270 shares of the company’s stock, valued at approximately $1,339,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FLUT. Makena Capital Management LLC acquired a new stake in Flutter Entertainment in the 3rd quarter valued at $11,517,000. TimesSquare Capital Management LLC raised its position in Flutter Entertainment by 294.1% during the third quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock worth $96,235,000 after acquiring an additional 282,736 shares during the period. AGF Management Ltd. purchased a new position in Flutter Entertainment during the third quarter valued at $9,519,000. Mutual of America Capital Management LLC purchased a new position in Flutter Entertainment during the third quarter valued at $2,173,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Flutter Entertainment in the third quarter valued at about $169,777,000.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $112.25 on Monday. The company has a market cap of $19.68 billion, a P/E ratio of -62.36, a P/E/G ratio of 0.76 and a beta of 2.32. Flutter Entertainment PLC has a twelve month low of $99.96 and a twelve month high of $313.68. The company’s 50-day moving average price is $163.36 and its 200-day moving average price is $216.47. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.37). The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The firm’s revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.94 EPS. On average, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. UBS Group cut their target price on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Needham & Company LLC lowered their price objective on Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Wells Fargo & Company reiterated an “equal weight” rating and set a $228.00 price objective (down from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. Benchmark reduced their target price on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Canaccord Genuity Group decreased their target price on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Flutter Entertainment has an average rating of “Moderate Buy” and an average target price of $234.65.

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.