ABN Amro Investment Solutions Buys Shares of 5,627 Flutter Entertainment PLC $FLUT

ABN Amro Investment Solutions bought a new position in Flutter Entertainment PLC (NYSE:FLUT) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,627 shares of the company’s stock, valued at approximately $574,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cibc World Markets Corp bought a new stake in Flutter Entertainment during the 4th quarter worth approximately $1,678,841,000. Hsbc Holdings PLC lifted its stake in Flutter Entertainment by 33,988.7% in the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after buying an additional 5,589,099 shares in the last quarter. Capital International Investors lifted its position in Flutter Entertainment by 146.8% in the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after acquiring an additional 4,782,302 shares in the last quarter. Norges Bank bought a new position in Flutter Entertainment during the 4th quarter worth about $694,009,000. Finally, Durable Capital Partners LP lifted its holdings in shares of Flutter Entertainment by 274.2% in the third quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company’s stock valued at $315,973,000 after purchasing an additional 911,507 shares in the last quarter.

Insiders Place Their Bets

In other news, COO James Philip Bishop acquired 1,000 shares of Flutter Entertainment stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $99.75 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the chief operating officer directly owned 17,605 shares in the company, valued at approximately $1,756,098.75. The trade was a 6.02% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $98.13, for a total value of $302,632.92. Following the completion of the transaction, the chief executive officer directly owned 74,326 shares in the company, valued at approximately $7,293,610.38. This represents a 3.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have acquired 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. Corporate insiders own 0.13% of the company’s stock.

Flutter Entertainment Trading Up 0.6%

NYSE FLUT opened at $101.47 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average of $103.43 and a 200-day moving average of $120.97. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. The company has a market cap of $17.65 billion, a PE ratio of -47.42, a PEG ratio of 1.39 and a beta of 1.31.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the firm earned $1.59 EPS. Flutter Entertainment’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts anticipate that Flutter Entertainment PLC will post 4.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on FLUT. Weiss Ratings restated a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. BNP Paribas Exane began coverage on shares of Flutter Entertainment in a research note on Thursday, May 14th. They set an “underperform” rating and a $80.00 price target for the company. Benchmark lowered their price objective on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Freedom Capital raised shares of Flutter Entertainment to a “hold” rating in a research report on Monday, June 22nd. Finally, Moffett Nathanson cut shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price for the company. in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $176.26.

Flutter Entertainment 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.