Flutter Entertainment PLC $FLUT Shares Sold by Korea Investment CORP

Korea Investment CORP reduced its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 34.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 140,973 shares of the company’s stock after selling 73,160 shares during the period. Korea Investment CORP’s holdings in Flutter Entertainment were worth $35,807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Makena Capital Management LLC purchased a new stake in Flutter Entertainment during the third quarter worth about $11,517,000. TimesSquare Capital Management LLC increased its holdings in Flutter Entertainment by 294.1% in the third quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after buying an additional 282,736 shares in the last quarter. AGF Management Ltd. purchased a new position in Flutter Entertainment in the third quarter valued at about $9,519,000. Mutual of America Capital Management LLC acquired a new stake in shares of Flutter Entertainment during the 3rd quarter valued at approximately $2,173,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Flutter Entertainment during the 3rd quarter valued at approximately $169,777,000.

Flutter Entertainment Trading Down 2.4%

Shares of FLUT opened at $109.60 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $161.21 and a 200-day simple moving average of $215.16. Flutter Entertainment PLC has a 1-year low of $99.96 and a 1-year high of $313.68. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of -60.89, a price-to-earnings-growth ratio of 0.76 and a beta of 2.32.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.94 EPS. Equities analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein restated a “market perform” rating and issued a $170.00 price target on shares of Flutter Entertainment in a report on Friday, February 6th. UBS Group reduced their price objective on Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Barclays decreased their target price on Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Oppenheimer lowered their target price on Flutter Entertainment from $280.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Finally, Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $234.65.

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.