AMS Capital Ltda Buys Shares of 19,919 Flutter Entertainment PLC $FLUT

AMS Capital Ltda bought a new stake in Flutter Entertainment PLC (NYSE:FLUT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,919 shares of the company’s stock, valued at approximately $5,059,000. Flutter Entertainment makes up approximately 2.1% of AMS Capital Ltda’s holdings, making the stock its 11th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Flutter Entertainment by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock worth $4,460,076,000 after acquiring an additional 301,879 shares in the last quarter. Parvus Asset Management Jersey Ltd bought a new stake in Flutter Entertainment during the second quarter worth $2,231,266,000. Wellington Management Group LLP boosted its holdings in shares of Flutter Entertainment by 5.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,519,434 shares of the company’s stock valued at $903,694,000 after purchasing an additional 182,594 shares in the last quarter. Capital International Investors boosted its holdings in shares of Flutter Entertainment by 4.9% in the 3rd quarter. Capital International Investors now owns 3,256,764 shares of the company’s stock valued at $827,841,000 after purchasing an additional 153,390 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Flutter Entertainment in the 2nd quarter valued at $930,349,000.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FLUT shares. Citizens Jmp lowered their price target on Flutter Entertainment from $275.00 to $195.00 and set a “market outperform” rating for the company in a report on Friday, February 27th. Truist Financial decreased their target price 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. UBS Group lowered their target price on Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Sanford C. Bernstein reissued a “market perform” rating and issued a $170.00 target price on shares of Flutter Entertainment in a report on Friday, February 6th. Finally, Needham & Company LLC reduced their price target on shares of Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $234.65.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 8,895 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total transaction of $942,069.45. Following the sale, the chief executive officer directly owned 78,889 shares of the company’s stock, valued at $8,355,133.99. The trade was a 10.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total transaction of $467,208.00. Following the completion of the transaction, the chief executive officer owned 36,788 shares of the company’s stock, valued at approximately $3,973,104. This trade represents a 10.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 17,834 shares of company stock worth $1,900,331 in the last quarter. 0.09% of the stock is owned by insiders.

Flutter Entertainment Trading Down 2.4%

Shares of FLUT stock opened at $106.61 on Thursday. Flutter Entertainment PLC has a twelve month low of $99.96 and a twelve month high of $313.68. The stock’s fifty day simple moving average is $145.93 and its 200 day simple moving average is $206.20. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $18.69 billion, a P/E ratio of -59.23, a P/E/G ratio of 0.74 and a beta of 2.30.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.37). The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.94 earnings per share. As a group, sell-side analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is 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.