Flutter Entertainment PLC $FLUT Shares Purchased by Bank of Montreal Can

Bank of Montreal Can raised its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 25.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,156 shares of the company’s stock after acquiring an additional 45,445 shares during the period. Bank of Montreal Can owned approximately 0.13% of Flutter Entertainment worth $57,190,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in shares of Flutter Entertainment by 5.4% during the third quarter. Legal & General Group Plc now owns 929,734 shares of the company’s stock valued at $236,627,000 after purchasing an additional 47,367 shares during the period. Russell Investments Group Ltd. grew its position in Flutter Entertainment by 33.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 33,808 shares of the company’s stock valued at $8,599,000 after buying an additional 8,415 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management grew its position in Flutter Entertainment by 13.7% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 7,110 shares of the company’s stock valued at $1,806,000 after buying an additional 859 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in Flutter Entertainment by 29.2% during the 3rd quarter. Jefferies Financial Group Inc. now owns 9,715 shares of the company’s stock valued at $2,468,000 after buying an additional 2,197 shares during the period. Finally, Rathbones Group PLC bought a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $1,734,000.

Analyst Upgrades and Downgrades

FLUT has been the subject of a number of research analyst reports. UBS Group reduced their price target on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Texas Capital raised Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. Canaccord Genuity Group cut their target price on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Stifel Nicolaus decreased their price target on Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Susquehanna reiterated a “positive” rating and set a $228.00 price target on shares of Flutter Entertainment in a research report on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.65.

Flutter Entertainment Stock Down 3.6%

NYSE FLUT opened at $105.64 on Friday. Flutter Entertainment PLC has a 12 month low of $99.96 and a 12 month high of $313.68. The company has a market capitalization of $18.52 billion, a P/E ratio of -58.69, a PEG ratio of 0.75 and a beta of 2.30. The company’s 50 day simple moving average is $154.69 and its 200 day simple moving average is $212.34. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results 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 business 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%.The company’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.94 earnings per share. Equities research analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.