Flutter Entertainment PLC $FLUT Stake Decreased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd trimmed its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 60.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,262 shares of the company’s stock after selling 125,716 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Flutter Entertainment were worth $20,895,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 acquiring an additional 69 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Flutter Entertainment during the second quarter valued at about $405,000. Envestnet Asset Management Inc. lifted its holdings in Flutter Entertainment by 24.8% in the second quarter. Envestnet Asset Management Inc. now owns 68,772 shares of the company’s stock worth $19,652,000 after purchasing an additional 13,673 shares during the period. Assetmark Inc. grew its position in Flutter Entertainment by 9.6% in the 2nd quarter. Assetmark Inc. now owns 16,952 shares of the company’s stock valued at $4,844,000 after buying an additional 1,485 shares in the last quarter. Finally, Atria Investments Inc grew its position in Flutter Entertainment by 158.8% in the 2nd quarter. Atria Investments Inc now owns 3,051 shares of the company’s stock valued at $872,000 after buying an additional 1,872 shares in the last quarter.

Flutter Entertainment Trading Up 4.9%

NYSE:FLUT opened at $111.31 on Wednesday. The stock has a fifty day simple moving average of $169.81 and a 200 day simple moving average of $220.28. The firm has a market capitalization of $19.51 billion, a price-to-earnings ratio of -61.84, a price-to-earnings-growth ratio of 0.43 and a beta of 2.30. Flutter Entertainment PLC has a 1-year low of $99.96 and a 1-year high of $313.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The firm had revenue of $4.74 billion for 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%. Flutter Entertainment’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.94 earnings per share. Sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Needham & Company LLC dropped their target price on Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 27th. BTIG Research cut their target price on Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Stifel Nicolaus lowered their price target on Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Craig Hallum downgraded Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $234.65.

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.