Flutter Entertainment PLC $FLUT Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 97.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,444 shares of the company’s stock after selling 732,069 shares during the quarter. Hsbc Holdings PLC’s holdings in Flutter Entertainment were worth $3,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLUT. Norges Bank acquired a new position in Flutter Entertainment during the 4th quarter worth about $694,009,000. Peregrine Capital Management LLC boosted its position in Flutter Entertainment by 34.2% in the 4th quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock valued at $32,467,000 after buying an additional 38,469 shares during the period. Hudson Bay Capital Management LP grew its stake in shares of Flutter Entertainment by 6.2% in the third quarter. Hudson Bay Capital Management LP now owns 395,120 shares of the company’s stock worth $100,360,000 after acquiring an additional 23,237 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Flutter Entertainment by 5.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock worth $85,818,000 after acquiring an additional 20,203 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Flutter Entertainment by 3.4% during the third quarter. First Trust Advisors LP now owns 551,667 shares of the company’s stock worth $140,123,000 after acquiring an additional 17,913 shares during the period.

Analyst Ratings Changes

Several research analysts recently commented on FLUT shares. Canaccord Genuity Group lowered their target price on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Susquehanna lowered their price objective on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research report on Tuesday, March 31st. Citigroup lowered shares of Flutter Entertainment from a “buy” rating to a “sell” rating in a research note on Thursday, April 16th. Freedom Capital upgraded shares of Flutter Entertainment to a “hold” rating in a research note on Monday, June 22nd. Finally, Sanford C. Bernstein lowered their price target on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average price target of $187.42.

Flutter Entertainment Stock Up 0.1%

FLUT stock opened at $104.32 on Monday. The company has a fifty day moving average price of $102.35 and a 200 day moving average price of $136.16. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. The company has a market cap of $18.15 billion, a price-to-earnings ratio of -48.75, a price-to-earnings-growth ratio of 1.35 and a beta of 1.40. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 EPS. Sell-side analysts expect that Flutter Entertainment PLC will post 5 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director John A. Bryant purchased 1,950 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was acquired at an average price of $102.86 per share, for a total transaction of $200,577.00. Following the completion of the purchase, the director directly owned 9,235 shares of the company’s stock, valued at $949,912.10. This trade represents a 26.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Don H. Liu purchased 1,459 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $102.78 per share, with a total value of $149,956.02. Following the completion of the acquisition, the insider owned 22,265 shares of the company’s stock, valued at approximately $2,288,396.70. This trade represents a 7.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. Corporate insiders own 0.13% of the company’s stock.

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.