Flutter Entertainment PLC $FLUT Shares Sold by Cantillon Capital Management LLC

Cantillon Capital Management LLC trimmed its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 39.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,375,776 shares of the company’s stock after selling 888,249 shares during the quarter. Cantillon Capital Management LLC’s holdings in Flutter Entertainment were worth $140,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Flutter Entertainment in the 4th quarter worth approximately $694,009,000. Peregrine Capital Management LLC increased its stake in Flutter Entertainment by 34.2% during the 4th quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock valued at $32,467,000 after purchasing an additional 38,469 shares in the last quarter. Capricorn Fund Managers Ltd acquired a new position in Flutter Entertainment during the 1st quarter valued at approximately $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Flutter Entertainment by 53.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock worth $6,530,000 after buying an additional 22,270 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its holdings 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 buying an additional 20,203 shares during the last quarter.

Flutter Entertainment Stock Up 0.2%

FLUT stock opened at $106.73 on Monday. The company has a market capitalization of $18.57 billion, a P/E ratio of -49.87, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. The firm’s fifty day simple moving average is $102.66 and its 200-day simple moving average is $124.33. 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 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 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%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 earnings per share. As a group, equities research analysts forecast that Flutter Entertainment PLC will post 4.83 earnings per share for the current year.

Analysts Set New Price Targets

FLUT has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price objective on shares of Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Truist Financial reduced their target price on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. UBS Group lowered their price target on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Sanford C. Bernstein dropped their price target on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a research note on Thursday, May 7th. Finally, Barclays increased their price objective on Flutter Entertainment from $150.00 to $151.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.83.

Insider Activity at Flutter Entertainment

In related news, CEO Daniel Mark Taylor acquired 1,611 shares of Flutter Entertainment stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the purchase, the chief executive officer owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. This represents a 4.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Don H. Liu sold 1,259 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total value of $117,552.83. Following the completion of the transaction, the insider directly owned 21,006 shares of the company’s stock, valued at approximately $1,961,330.22. This trade represents a 5.65% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders acquired 10,453 shares of company stock worth $1,045,526 and sold 5,994 shares worth $577,293. 0.13% of the stock is currently owned by company insiders.

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.