Glynn Capital Management LLC Reduces Stock Position in Flutter Entertainment PLC $FLUT

Glynn Capital Management LLC lowered its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,779 shares of the company’s stock after selling 8,316 shares during the period. Flutter Entertainment accounts for approximately 3.7% of Glynn Capital Management LLC’s portfolio, making the stock its 15th largest holding. Glynn Capital Management LLC’s holdings in Flutter Entertainment were worth $10,704,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. MML Investors Services LLC lifted its position in shares of Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after acquiring an additional 45 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Flutter Entertainment by 1.2% during the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after acquiring an additional 49 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Flutter Entertainment by 5.7% during the third quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after acquiring an additional 58 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Flutter Entertainment by 5.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after acquiring an additional 69 shares in the last quarter. Finally, Truist Financial Corp lifted its position in shares of Flutter Entertainment by 2.8% during the fourth quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock worth $560,000 after acquiring an additional 72 shares in the last quarter.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, insider Don H. Liu sold 1,259 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total transaction of $117,552.83. Following the sale, the insider owned 21,006 shares in the company, valued at $1,961,330.22. This trade represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Carolan Lennon purchased 520 shares of the stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $92.30 per share, for a total transaction of $47,996.00. Following the transaction, the director directly owned 2,127 shares of the company’s stock, valued at approximately $196,322.10. This represents a 32.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 22,306 shares valued at $2,333,598. Company insiders own 0.13% of the company’s stock.

Flutter Entertainment Trading Down 0.1%

Shares of FLUT stock opened at $95.65 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. Flutter Entertainment PLC has a 52-week low of $91.52 and a 52-week high of $313.68. The company has a market capitalization of $16.64 billion, a PE ratio of -44.70, a price-to-earnings-growth ratio of 1.27 and a beta of 1.58. The business’s fifty day moving average is $103.06 and its 200 day moving average is $151.21.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $1.59 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts anticipate that Flutter Entertainment PLC will post 4.88 EPS for the current fiscal year.

Flutter Entertainment announced that its board has authorized a share buyback plan on Wednesday, March 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FLUT shares. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price on the stock. in a research report on Friday, April 24th. UBS Group dropped their target price on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Stifel Nicolaus lowered their price objective on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Barclays lowered their price objective on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, BNP Paribas Exane began coverage on Flutter Entertainment in a research report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $189.26.

Flutter Entertainment 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.