Flutter Entertainment PLC $FLUT Shares Bought by Capital International Inc. CA

Capital International Inc. CA raised its stake in Flutter Entertainment PLC (NYSE:FLUT) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 235,767 shares of the company’s stock after purchasing an additional 18,226 shares during the quarter. Capital International Inc. CA owned about 0.13% of Flutter Entertainment worth $50,699,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. JFS Wealth Advisors LLC acquired a new position in shares of Flutter Entertainment during the 3rd quarter valued at $27,000. Atlantic Union Bankshares Corp acquired a new position in shares of Flutter Entertainment during the 3rd quarter valued at $34,000. IFP Advisors Inc lifted its holdings in shares of Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after acquiring an additional 90 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Flutter Entertainment by 83.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after acquiring an additional 75 shares in the last quarter.

Analyst Ratings Changes

FLUT has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Sanford C. Bernstein dropped their target price on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a research report on Thursday, May 7th. Truist Financial dropped their target price on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Needham & Company LLC dropped their target price on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Citigroup lowered Flutter Entertainment from a “buy” rating to a “sell” rating in a research report on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $189.26.

Insiders Place Their Bets

In related news, CEO Daniel Mark Taylor acquired 1,611 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the completion of the acquisition, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. The trade was a 4.89% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total transaction of $467,208.00. Following the completion of the transaction, the chief executive officer owned 36,788 shares of the company’s stock, valued at $3,973,104. This trade represents a 10.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders purchased 10,453 shares of company stock valued at $1,045,526 and sold 23,828 shares valued at $2,477,625. Insiders own 0.13% of the company’s stock.

Flutter Entertainment Stock Down 0.2%

NYSE:FLUT opened at $100.62 on Friday. The firm has a market capitalization of $17.50 billion, a PE ratio of -47.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.40. The stock has a 50 day moving average of $102.40 and a 200-day moving average of $146.73. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the company earned $1.59 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. Analysts predict that Flutter Entertainment PLC will post 4.88 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has authorized a share buyback program on Wednesday, March 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.