Resona Asset Management Co. Ltd. Cuts Stock Position in Flutter Entertainment PLC $FLUT

Resona Asset Management Co. Ltd. lessened its stake in Flutter Entertainment PLC (NYSE:FLUT) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,762 shares of the company’s stock after selling 5,283 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Flutter Entertainment were worth $8,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC purchased a new position in Flutter Entertainment in the third quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB grew its stake in Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in Flutter Entertainment in the third quarter valued at about $34,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Flutter Entertainment by 246.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after purchasing an additional 133 shares during the last quarter.

Insider Transactions at Flutter Entertainment

In other news, CEO Daniel Mark Taylor acquired 1,611 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $94.29 per share, with a total value of $151,901.19. Following the purchase, the chief executive officer owned 34,584 shares in the company, valued at $3,260,925.36. This trade represents a 4.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total value of $467,208.00. Following the completion of the transaction, the chief executive officer directly owned 36,788 shares of the company’s stock, valued at approximately $3,973,104. This represents a 10.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 10,453 shares of company stock worth $1,045,526 and sold 22,306 shares worth $2,333,598. 0.13% of the stock is owned by company insiders.

Flutter Entertainment Stock Up 0.4%

Flutter Entertainment stock opened at $97.11 on Friday. The stock has a market capitalization of $16.89 billion, a PE ratio of -45.38, a price-to-earnings-growth ratio of 1.28 and a beta of 1.58. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. The business has a 50 day simple moving average of $104.29 and a 200-day simple moving average of $155.65. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the business earned $1.59 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, analysts anticipate that Flutter Entertainment PLC will post 4.88 EPS for the current fiscal year.

Flutter Entertainment declared that its board has approved a stock buyback plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Moffett Nathanson lowered Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price on the stock. in a research note on Friday, April 24th. Bank of America lowered their price target on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Needham & Company LLC lowered their price target on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Stifel Nicolaus lowered their price target on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Finally, Wells Fargo & Company lowered their price target on Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.26.

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.