Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 22,270 Shares of Flutter Entertainment PLC $FLUT

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 53.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,054 shares of the company’s stock after buying an additional 22,270 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Flutter Entertainment were worth $6,530,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its stake in shares of Flutter Entertainment by 219.4% in 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 during the period. Zions Bancorporation National Association UT raised its stake in shares of Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after buying an additional 75 shares during the last quarter. EFG International AG acquired a new stake in shares of Flutter Entertainment in the 4th quarter valued at approximately $36,000. Finally, IFP Advisors Inc grew its stake in shares of 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 buying an additional 90 shares in the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of recent analyst reports. BTIG Research lowered their price target on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Citigroup reissued a “sell” rating on shares of Flutter Entertainment in a research report on Monday, June 29th. Benchmark lowered their price target on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Sanford C. Bernstein dropped their price objective on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a research note on Thursday, May 7th. Finally, Wells Fargo & Company boosted their price objective on shares of Flutter Entertainment from $161.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average target price of $187.42.

Flutter Entertainment Stock Up 0.0%

Flutter Entertainment stock opened at $106.04 on Monday. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68. The firm has a 50 day moving average price of $101.93 and a 200-day moving average price of $132.13. The company has a market capitalization of $18.45 billion, a P/E ratio of -49.55, a P/E/G ratio of 1.37 and a beta of 1.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS. As a group, equities analysts predict that Flutter Entertainment PLC will post 5 EPS for the current year.

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

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, COO James Philip Bishop bought 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $99.75 per share, with a total value of $99,750.00. Following the transaction, the chief operating officer owned 17,605 shares in the company, valued at $1,756,098.75. This represents a 6.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Don H. Liu acquired 1,459 shares of Flutter Entertainment stock in a transaction that occurred on Friday, May 8th. The shares were purchased at an average price of $102.78 per share, with a total value of $149,956.02. Following the transaction, the insider owned 22,265 shares of the company’s stock, valued at $2,288,396.70. The trade was a 7.01% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. Company insiders own 0.13% of the company’s stock.

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.