Groupe la Francaise Decreases Position in Flutter Entertainment PLC $FLUT

Groupe la Francaise lessened its position in Flutter Entertainment PLC (NYSE:FLUT) by 94.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,985 shares of the company’s stock after selling 34,366 shares during the period. Groupe la Francaise’s holdings in Flutter Entertainment were worth $202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors raised its holdings in Flutter Entertainment by 146.8% in the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after acquiring an additional 4,782,302 shares during the last quarter. Cibc World Markets Corp bought a new position in Flutter Entertainment in the 4th quarter valued at approximately $1,678,841,000. Caledonia Private Investments Pty Ltd boosted its stake in Flutter Entertainment by 3.8% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after purchasing an additional 264,856 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Flutter Entertainment by 33,988.7% in the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock worth $575,185,000 after purchasing an additional 5,589,099 shares in the last quarter. Finally, Tiger Global Management LLC increased its holdings in shares of Flutter Entertainment by 9.4% in the 4th quarter. Tiger Global Management LLC now owns 4,003,542 shares of the company’s stock worth $860,922,000 after purchasing an additional 345,350 shares in the last quarter.

Flutter Entertainment Stock Up 2.2%

NYSE FLUT opened at $104.39 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of -48.78, a PEG ratio of 1.43 and a beta of 1.31. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68. The company has a fifty day moving average of $104.29 and a two-hundred day moving average of $117.08.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share 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 business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the company earned $1.59 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, analysts predict that Flutter Entertainment PLC will post 4.72 earnings per share for the current year.

Insider Buying and Selling at Flutter Entertainment

In other news, insider Don H. Liu sold 1,259 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total value of $117,552.83. Following the completion of the transaction, the insider directly owned 21,006 shares of the company’s stock, valued at approximately $1,961,330.22. The trade was a 5.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the completion of the acquisition, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. The trade was a 4.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on FLUT. Citizens Jmp dropped their price objective on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 8th. Zacks Research upgraded shares of Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. 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 research report on Thursday, May 7th. Stifel Nicolaus cut their target price on shares of Flutter Entertainment from $170.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Finally, Needham & Company LLC dropped their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average target price of $176.00.

Flutter Entertainment Company 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.