Capricorn Fund Managers Ltd Makes New Investment in Flutter Entertainment PLC $FLUT

Capricorn Fund Managers Ltd bought a new position in Flutter Entertainment PLC (NYSE:FLUT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 36,000 shares of the company’s stock, valued at approximately $3,670,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its stake 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 worth $25,000 after buying an additional 79 shares in the last quarter. Zions Bancorporation National Association UT grew its holdings in Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after acquiring an additional 118 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after acquiring an additional 75 shares in the last quarter. EFG International AG purchased a new position in Flutter Entertainment in the fourth quarter worth $36,000. Finally, IFP Advisors Inc lifted its holdings in Flutter Entertainment by 93.8% in the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after acquiring an additional 90 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have commented on FLUT. Stifel Nicolaus decreased their target price on shares of Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Moffett Nathanson cut shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price objective for the company. in a research note on Friday, April 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Flutter Entertainment in a report on Wednesday, May 27th. BNP Paribas Exane started coverage on shares of Flutter Entertainment in a research report on Thursday, May 14th. They set an “underperform” rating and a $80.00 target price on the stock. Finally, UBS Group lowered their target price on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.42.

Flutter Entertainment Stock Down 2.0%

Flutter Entertainment stock opened at $102.02 on Wednesday. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of -47.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.40. The stock’s fifty day moving average is $102.10 and its two-hundred day moving average is $134.56. 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 (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the company posted $1.59 EPS. The business’s revenue was up 17.4% on a year-over-year basis. Analysts predict that Flutter Entertainment PLC will post 5 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has approved a share repurchase plan on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other Flutter Entertainment news, Director John A. Bryant purchased 1,950 shares of the stock in a transaction dated Friday, May 8th. The shares were acquired at an average cost of $102.86 per share, for a total transaction of $200,577.00. Following the completion of the transaction, 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 SEC, which is available through this hyperlink. Also, insider Don H. Liu purchased 1,459 shares of the stock in a transaction dated Friday, May 8th. The stock was acquired at an average price of $102.78 per share, for a total transaction of $149,956.02. Following the completion of the transaction, the insider directly owned 22,265 shares of the company’s stock, valued at approximately $2,288,396.70. The trade was a 7.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 10,453 shares of company stock worth $1,045,526 and sold 5,994 shares worth $577,293. Insiders own 0.13% of the company’s stock.

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.