Capital International Investors Purchases 4,782,302 Shares of Flutter Entertainment PLC $FLUT

Capital International Investors grew its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 146.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,039,066 shares of the company’s stock after purchasing an additional 4,782,302 shares during the period. Capital International Investors owned about 4.59% of Flutter Entertainment worth $1,728,772,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FLUT. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after buying an additional 79 shares during the period. JFS Wealth Advisors LLC purchased a new position in shares of Flutter Entertainment in the third quarter worth about $27,000. Atlantic Union Bankshares Corp purchased a new position in shares of Flutter Entertainment in the third quarter worth about $34,000. IFP Advisors Inc increased its holdings in shares of Flutter Entertainment by 93.8% in the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after buying an additional 90 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of 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 buying an additional 75 shares during the period.

Flutter Entertainment Stock Down 0.2%

NYSE FLUT opened at $100.62 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $17.50 billion, a PE ratio of -47.02, a PEG ratio of 1.33 and a beta of 1.40. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68. The business’s 50-day moving average is $102.40 and its 200 day moving average is $146.73.

Flutter Entertainment (NYSE:FLUT) last posted its 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. The company 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%.Flutter Entertainment’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $1.59 earnings per share. Sell-side analysts forecast that Flutter Entertainment PLC will post 4.88 earnings per share for the current year.

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

Insider Buying and Selling

In other Flutter Entertainment news, Director Carolan Lennon sold 439 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $94.63, for a total value of $41,542.57. Following the completion of the sale, the director directly owned 1,688 shares in the company, valued at $159,735.44. This trade represents a 20.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu sold 1,259 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total transaction of $117,552.83. Following the completion of the sale, the insider owned 21,006 shares of the company’s stock, valued at $1,961,330.22. This trade represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

FLUT has been the topic of several analyst reports. Canaccord Genuity Group decreased their price objective on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Kepler Capital Markets downgraded Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Oppenheimer decreased their price objective on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $167.00 price objective on shares of Flutter Entertainment in a report on Friday, May 8th. Finally, Needham & Company LLC decreased their price objective on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Moderate Buy” and an average target price of $189.26.

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.