19,919 Shares in Flutter Entertainment PLC $FLUT Bought by AMS Capital Ltda

AMS Capital Ltda bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 19,919 shares of the company’s stock, valued at approximately $5,059,000. Flutter Entertainment accounts for 2.1% of AMS Capital Ltda’s holdings, making the stock its 11th biggest holding.

A number of other institutional investors have also recently made changes to their positions in FLUT. JFS Wealth Advisors LLC acquired a new stake in shares of Flutter Entertainment in the third quarter valued at about $27,000. JCIC Asset Management Inc. acquired a new position in shares of Flutter Entertainment in the third quarter worth approximately $32,000. Atlantic Union Bankshares Corp bought a new stake in Flutter Entertainment in the third quarter valued at approximately $34,000. ORG Partners LLC boosted its holdings in Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 43 shares during the last quarter. Finally, Allworth Financial LP increased its position in Flutter Entertainment by 116.4% during the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock valued at $41,000 after purchasing an additional 78 shares during the period.

Flutter Entertainment Price Performance

FLUT stock opened at $106.61 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $145.93 and its 200-day moving average is $206.20. The stock has a market capitalization of $18.69 billion, a PE ratio of -59.23, a price-to-earnings-growth ratio of 0.74 and a beta of 2.30. Flutter Entertainment PLC has a 1 year low of $99.96 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the previous year, the firm earned $2.94 earnings per share. The business’s quarterly revenue was up 24.9% on a year-over-year basis. Equities research 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 approved a share buyback plan on Wednesday, March 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 4,326 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the completion of the sale, the chief executive officer owned 36,788 shares of the company’s stock, valued at approximately $3,973,104. This trade represents a 10.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $106.45, for a total value of $491,053.85. Following the sale, the chief financial officer owned 10,006 shares of the company’s stock, valued at approximately $1,065,138.70. This represents a 31.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 17,834 shares of company stock worth $1,900,331. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on FLUT. Canaccord Genuity Group lowered their price target on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Citizens Jmp decreased their price objective on shares of Flutter Entertainment from $275.00 to $195.00 and set a “market outperform” rating for the company in a research report on Friday, February 27th. HSBC raised shares of Flutter Entertainment from a “hold” rating to a “buy” rating and lowered their target price for the stock from $265.00 to $228.00 in a research note on Monday, November 24th. Morgan Stanley cut their price target on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Finally, Barclays decreased their price target on Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $234.65.

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.