FNY Investment Advisers LLC Makes New Investment in Flutter Entertainment PLC $FLUT

FNY Investment Advisers LLC purchased a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,200 shares of the company’s stock, valued at approximately $1,333,000.

Several other hedge funds also recently modified their holdings of FLUT. Vanguard Group Inc. increased its holdings in Flutter Entertainment by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock worth $4,460,076,000 after purchasing an additional 301,879 shares in the last quarter. Parvus Asset Management Jersey Ltd bought a new position in Flutter Entertainment in the second quarter valued at about $2,231,266,000. Wellington Management Group LLP boosted its stake in shares of Flutter Entertainment by 5.5% during the third 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 stake in shares of Flutter Entertainment by 4.9% during the third 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, State Street Corp grew its holdings in shares of Flutter Entertainment by 4.5% during the third quarter. State Street Corp now owns 3,226,742 shares of the company’s stock worth $819,592,000 after purchasing an additional 140,012 shares during the last quarter.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, CFO Robert Coldrake sold 4,613 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total transaction of $491,053.85. Following the sale, the chief financial officer owned 10,006 shares of the company’s stock, valued at approximately $1,065,138.70. This represents a 31.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 8,895 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total value of $942,069.45. Following the sale, the chief executive officer owned 78,889 shares of the company’s stock, valued at approximately $8,355,133.99. The trade was a 10.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,834 shares of company stock worth $1,900,331 over the last three months. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

FLUT has been the subject of a number of research reports. Needham & Company LLC dropped their price objective on shares of Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 27th. Benchmark reduced their target price on shares of Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Stifel Nicolaus decreased their price target on shares of Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $170.00 price target on shares of Flutter Entertainment in a research note on Friday, February 6th. Finally, UBS Group cut their price target on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.25.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $106.47 on Friday. The stock’s 50 day moving average is $125.52 and its 200 day moving average is $192.35. Flutter Entertainment PLC has a one year low of $98.88 and a one year high of $313.68. The firm has a market cap of $18.66 billion, a P/E ratio of -59.15, a P/E/G ratio of 0.70 and a beta of 1.93. 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 released its earnings results on Friday, February 27th. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.94 EPS. As a group, research analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase plan on Wednesday, March 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors 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.