Atom Investors LP Makes New $6.13 Million Investment in Flutter Entertainment PLC $FLUT

Atom Investors LP acquired a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 28,495 shares of the company’s stock, valued at approximately $6,128,000.

Several other large investors also recently bought and sold shares of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Flutter Entertainment in the second quarter valued at approximately $405,000. Creative Planning purchased a new stake in shares of Flutter Entertainment in the second quarter valued at approximately $296,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after purchasing an additional 133 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Flutter Entertainment by 74.6% in the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after purchasing an additional 106 shares in the last quarter.

Flutter Entertainment Trading Down 0.1%

Shares of Flutter Entertainment stock opened at $108.92 on Wednesday. The firm has a market capitalization of $18.95 billion, a price-to-earnings ratio of -50.90, a PEG ratio of 1.41 and a beta of 1.40. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average of $103.35 and a 200 day moving average of $142.26.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.59 earnings per share. As a group, research analysts predict that Flutter Entertainment PLC will post 5 earnings per share for the current year.

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

Insider Buying and Selling

In related news, CEO Jeremy Peter Jackson sold 3,084 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $98.13, for a total value of $302,632.92. Following the completion of the transaction, the chief executive officer directly owned 74,326 shares in the company, valued at approximately $7,293,610.38. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John A. Bryant acquired 1,950 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average price of $102.86 per share, with a total value 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 position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FLUT. Susquehanna dropped their price target 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. Needham & Company LLC dropped their price target on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d)” rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Citizens Jmp dropped their price target on Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $167.00 price target on shares of Flutter Entertainment in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $187.42.

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.