Flutter Entertainment PLC $FLUT Shares Sold by Capital Research Global Investors

Capital Research Global Investors lessened its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 15.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,399,277 shares of the company’s stock after selling 1,007,168 shares during the quarter. Capital Research Global Investors owned 3.08% of Flutter Entertainment worth $1,161,096,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake in 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 purchasing an additional 79 shares in the last quarter. JFS Wealth Advisors LLC acquired a new stake in Flutter Entertainment during the 3rd quarter valued at approximately $27,000. Atlantic Union Bankshares Corp acquired a new stake in Flutter Entertainment during the 3rd quarter valued at approximately $34,000. IFP Advisors Inc grew its stake in 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 purchasing an additional 90 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in 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 purchasing an additional 75 shares in the last quarter.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of recent analyst reports. Needham & Company LLC lowered their price objective on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $167.00 price objective on shares of Flutter Entertainment in a research note on Friday, May 8th. BTIG Research lowered their price objective on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Kepler Capital Markets lowered Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Finally, Stifel Nicolaus reduced their target price on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $189.26.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CFO Robert Coldrake sold 4,613 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total transaction of $491,053.85. Following the transaction, the chief financial officer owned 10,006 shares of the company’s stock, valued at $1,065,138.70. This trade represents a 31.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the transaction, the chief executive officer directly owned 36,788 shares in the company, valued at approximately $3,973,104. This represents a 10.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have purchased 10,453 shares of company stock worth $1,045,526 and have sold 23,828 shares worth $2,477,625. 0.13% of the stock is currently owned by corporate insiders.

Flutter Entertainment Trading Down 0.2%

NYSE:FLUT opened at $100.62 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The business’s 50 day moving average is $102.40 and its two-hundred day moving average is $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 market cap of $17.50 billion, a PE ratio of -47.02, a P/E/G ratio of 1.33 and a beta of 1.40.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, May 6th. The company reported $1.22 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 EPS. Flutter Entertainment’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, analysts predict that Flutter Entertainment PLC will post 4.88 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a stock repurchase program on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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.