Flutter Entertainment PLC $FLUT Stock Holdings Lifted by Wgi Dm LLC

Wgi Dm LLC grew its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 58.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 476,261 shares of the company’s stock after buying an additional 175,168 shares during the quarter. Flutter Entertainment comprises approximately 0.0% of Wgi Dm LLC’s holdings, making the stock its 5th largest holding. Wgi Dm LLC’s holdings in Flutter Entertainment were worth $120,970,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Flutter Entertainment by 402.4% during the second quarter. Vanguard Group Inc. now owns 17,257,475 shares of the company’s stock valued at $4,931,496,000 after buying an additional 13,822,673 shares during the period. Parvus Asset Management Jersey Ltd purchased a new stake in Flutter Entertainment during the second quarter worth $2,231,266,000. Norges Bank purchased a new stake in Flutter Entertainment during the second quarter worth $930,349,000. State Street Corp boosted its position in Flutter Entertainment by 120.3% during the 2nd quarter. State Street Corp now owns 3,086,730 shares of the company’s stock valued at $882,064,000 after acquiring an additional 1,685,556 shares in the last quarter. Finally, Durable Capital Partners LP increased its holdings in shares of Flutter Entertainment by 274.2% in the 3rd quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company’s stock valued at $315,973,000 after acquiring an additional 911,507 shares during the period.

Insider Buying and Selling at Flutter Entertainment

In related news, CEO Jeremy Peter Jackson sold 4,326 shares of the stock in a transaction on Wednesday, March 11th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amy Howe sold 8,895 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total transaction of $942,069.45. Following the completion of the transaction, the chief executive officer directly owned 78,889 shares in the company, valued at approximately $8,355,133.99. This represents a 10.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,834 shares of company stock valued at $1,900,331 over the last quarter. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on FLUT. Texas Capital raised Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, January 8th. Truist Financial cut their target price on Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Morgan Stanley reduced their target price on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, December 12th. HSBC raised shares of Flutter Entertainment from a “hold” rating to a “buy” rating and decreased their price target for the company from $265.00 to $228.00 in a research report on Monday, November 24th. Finally, Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.65.

Flutter Entertainment Trading Down 2.4%

Flutter Entertainment stock opened at $106.61 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31. Flutter Entertainment PLC has a 12 month low of $99.96 and a 12 month high of $313.68. The stock’s 50 day simple moving average is $145.93 and its two-hundred day simple moving average is $206.20. The firm has a market cap of $18.69 billion, a PE ratio of -59.23, a P/E/G ratio of 0.74 and a beta of 2.30.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter last year, the business earned $2.94 earnings per share. Flutter Entertainment’s revenue was up 24.9% on a year-over-year basis. Analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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

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.