First Trust Advisors LP Buys 17,913 Shares of Flutter Entertainment PLC $FLUT

First Trust Advisors LP increased its stake in Flutter Entertainment PLC (NYSE:FLUT) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 551,667 shares of the company’s stock after buying an additional 17,913 shares during the quarter. First Trust Advisors LP owned approximately 0.31% of Flutter Entertainment worth $140,123,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FLUT. Gabelli Funds LLC raised its position in Flutter Entertainment by 163.6% during the third quarter. Gabelli Funds LLC now owns 2,900 shares of the company’s stock worth $737,000 after acquiring an additional 1,800 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Flutter Entertainment by 71.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 823,587 shares of the company’s stock valued at $209,320,000 after acquiring an additional 343,998 shares during the period. Cresset Asset Management LLC bought a new position in shares of Flutter Entertainment in the 3rd quarter valued at about $399,000. Victory Capital Management Inc. increased its stake in shares of Flutter Entertainment by 30.2% during the 3rd quarter. Victory Capital Management Inc. now owns 3,360 shares of the company’s stock worth $853,000 after purchasing an additional 780 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its holdings in shares of Flutter Entertainment by 34.9% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 1,147 shares of the company’s stock valued at $269,000 after purchasing an additional 297 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FLUT shares. 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. Canaccord Genuity Group reduced their target price on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Zacks Research lowered Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. BTIG Research dropped their price target on Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $170.00 price target on shares of Flutter Entertainment in a report on Friday, February 6th. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $234.65.

Flutter Entertainment Stock Down 2.0%

NYSE FLUT opened at $112.25 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31. The company has a market cap of $19.68 billion, a price-to-earnings ratio of -62.36, a PEG ratio of 0.76 and a beta of 2.32. The company has a 50 day moving average of $163.36 and a 200-day moving average of $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 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 company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.Flutter Entertainment’s revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the business earned $2.94 EPS. On average, equities research analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

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.