Flutter Entertainment PLC $FLUT Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC trimmed its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,287 shares of the company’s stock after selling 9,692 shares during the quarter. Peregrine Capital Management LLC owned about 0.08% of Flutter Entertainment worth $14,404,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Flutter Entertainment in the fourth quarter worth about $694,009,000. Hudson Bay Capital Management LP increased its stake in Flutter Entertainment by 6.2% during the 3rd quarter. Hudson Bay Capital Management LP now owns 395,120 shares of the company’s stock valued at $100,360,000 after buying an additional 23,237 shares during the period. TimesSquare Capital Management LLC raised its position in shares of Flutter Entertainment by 5.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock worth $85,818,000 after buying an additional 20,203 shares in the last quarter. First Trust Advisors LP raised its position in shares of Flutter Entertainment by 3.4% during the 3rd quarter. First Trust Advisors LP now owns 551,667 shares of the company’s stock worth $140,123,000 after buying an additional 17,913 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Flutter Entertainment by 5.4% during the 3rd quarter. Legal & General Group Plc now owns 929,734 shares of the company’s stock worth $236,627,000 after buying an additional 47,367 shares in the last quarter.

Insiders Place Their Bets

In other news, Director John A. Bryant acquired 1,950 shares of Flutter Entertainment stock in a transaction on Friday, May 8th. The stock was bought at an average cost of $102.86 per share, with a total value of $200,577.00. Following the completion of the purchase, the director owned 9,235 shares of the company’s stock, valued at $949,912.10. This represents a 26.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Don H. Liu bought 1,459 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was purchased at an average price of $102.78 per share, with a total value of $149,956.02. Following the completion of the acquisition, the insider owned 22,265 shares of the company’s stock, valued at approximately $2,288,396.70. This trade represents a 7.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, 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.

Flutter Entertainment Trading Down 2.0%

Flutter Entertainment stock opened at $102.02 on Wednesday. The firm has a market cap of $17.75 billion, a price-to-earnings ratio of -47.67, a price-to-earnings-growth ratio of 1.35 and a beta of 1.40. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68. The firm’s 50 day moving average price is $102.10 and its two-hundred day moving average price is $134.56. 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 announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion during 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 company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 EPS. On average, research analysts predict that Flutter Entertainment PLC will post 5 EPS for the current fiscal year.

Flutter Entertainment declared that its board has approved a share repurchase program on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FLUT. Weiss Ratings reiterated a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. Stifel Nicolaus cut their target price on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Citizens Jmp lowered their price target on Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating on the stock in a research report on Thursday, May 7th. Needham & Company LLC dropped their price objective on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Oppenheimer cut their price objective on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.42.

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.