Dynamic Technology Lab Private Ltd Invests $1.34 Million in Flutter Entertainment PLC $FLUT

Dynamic Technology Lab Private Ltd bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,270 shares of the company’s stock, valued at approximately $1,339,000.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Flutter Entertainment by 402.4% in the 2nd quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock worth $4,931,496,000 after buying an additional 13,822,673 shares during the period. Parvus Asset Management Jersey Ltd purchased a new position in Flutter Entertainment during the 2nd quarter worth approximately $2,231,266,000. Norges Bank acquired a new stake in Flutter Entertainment during the 2nd quarter valued at approximately $930,349,000. State Street Corp lifted its stake in Flutter Entertainment by 120.3% during the 2nd quarter. State Street Corp now owns 3,086,730 shares of the company’s stock valued at $882,064,000 after acquiring an additional 1,685,556 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Flutter Entertainment by 57.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,080,848 shares of the company’s stock valued at $877,583,000 after acquiring an additional 1,122,892 shares during the last quarter.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Monday, December 29th. Morgan Stanley lowered their price target on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Truist Financial cut their price target on Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Barclays reduced their price objective on Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a report on Monday, January 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.65.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $112.25 on Monday. The company has a market capitalization of $19.68 billion, a PE ratio of -62.36, a price-to-earnings-growth ratio of 0.76 and a beta of 2.32. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95. The company’s fifty day moving average price is $163.36 and its 200 day moving average price is $216.47. Flutter Entertainment PLC has a 1 year low of $99.96 and a 1 year high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. During the same period in the previous year, the firm posted $2.94 EPS. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. On average, research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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.