Cantillon Capital Management LLC Trims Stock Position in Flutter Entertainment PLC $FLUT

Cantillon Capital Management LLC lessened its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 39.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,375,776 shares of the company’s stock after selling 888,249 shares during the period. Cantillon Capital Management LLC owned about 0.79% of Flutter Entertainment worth $140,260,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Swiss National Bank increased its holdings in Flutter Entertainment by 7.1% during the 1st quarter. Swiss National Bank now owns 490,422 shares of the company’s stock worth $49,999,000 after purchasing an additional 32,480 shares during the period. HughesLittle Investment Management Ltd. grew its position in shares of Flutter Entertainment by 34.8% during the 1st quarter. HughesLittle Investment Management Ltd. now owns 329,440 shares of the company’s stock worth $33,586,000 after buying an additional 85,050 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Flutter Entertainment during the 1st quarter worth $673,000. Bessemer Group Inc. increased its stake in shares of Flutter Entertainment by 1.6% during the first quarter. Bessemer Group Inc. now owns 382,161 shares of the company’s stock valued at $38,962,000 after buying an additional 6,180 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in shares of Flutter Entertainment during the first quarter valued at $284,000.

Flutter Entertainment Trading Up 0.2%

Shares of NYSE FLUT opened at $106.73 on Monday. 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 $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 1-year low of $91.52 and a 1-year high of $313.68. The business has a fifty day moving average price of $102.66 and a 200 day moving average price of $124.33.

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, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the company earned $1.59 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities research analysts expect that Flutter Entertainment PLC will post 4.83 EPS for the current fiscal year.

Insider Buying and Selling at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 3,084 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the transaction, the chief executive officer owned 74,326 shares in the company, valued at $7,293,610.38. The trade was a 3.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Mark Taylor bought 1,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $94.29 per share, with a total value of $151,901.19. Following the transaction, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at $3,260,925.36. The trade was a 4.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FLUT shares. BNP Paribas Exane initiated coverage on Flutter Entertainment in a report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 price objective for the company. Zacks Research raised shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Barclays boosted their price target on shares of Flutter Entertainment from $150.00 to $151.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Sanford C. Bernstein lowered their price target on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a research report on Thursday, May 7th. Finally, Truist Financial dropped their price objective on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average price target of $178.83.

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.