Flutter Entertainment PLC $FLUT Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 97.8% in the 4th quarter, HoldingsChannel reports. The firm owned 16,444 shares of the company’s stock after selling 732,069 shares during the period. Hsbc Holdings PLC’s holdings in Flutter Entertainment were worth $3,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Flutter Entertainment by 219.4% in the 4th 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 in the last quarter. Zions Bancorporation National Association UT increased its position in Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the period. EFG International AG purchased a new position in shares of Flutter Entertainment during the 4th quarter worth approximately $36,000. IFP Advisors Inc raised its stake in shares of Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after buying an additional 90 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of Flutter Entertainment by 83.3% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after buying an additional 75 shares in the last quarter.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $104.32 on Monday. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. The company has a market capitalization of $18.15 billion, a price-to-earnings ratio of -48.75, a PEG ratio of 1.35 and a beta of 1.40. The stock has a fifty day moving average of $102.35 and a two-hundred day moving average of $136.16. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.59 earnings per share. On average, analysts anticipate that Flutter Entertainment PLC will post 5 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

FLUT has been the topic of a number of analyst reports. Freedom Capital upgraded Flutter Entertainment to a “hold” rating in a research note on Monday, June 22nd. Susquehanna cut their price objective on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a research report on Tuesday, March 31st. Barclays reduced their target price on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Kepler Capital Markets lowered shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $167.00 price target on shares of Flutter Entertainment in a research note on Friday, May 8th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.42.

Insider Transactions at Flutter Entertainment

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 3,084 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the sale, the chief executive officer directly owned 74,326 shares of the company’s stock, valued at $7,293,610.38. This trade represents a 3.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Mark Taylor purchased 1,611 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the completion of the purchase, the chief executive officer directly owned 34,584 shares in the company, valued at $3,260,925.36. The trade was a 4.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. Company insiders own 0.13% of the company’s stock.

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.