Flutter Entertainment PLC $FLUT is Wgi Dm LLC’s 5th Largest Position

Wgi Dm LLC boosted its position in Flutter Entertainment PLC (NYSE:FLUT) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 499,524 shares of the company’s stock after buying an additional 23,263 shares during the period. Flutter Entertainment accounts for about 8.0% of Wgi Dm LLC’s holdings, making the stock its 5th largest holding. Wgi Dm LLC’s holdings in Flutter Entertainment were worth $107,418,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Makena Capital Management LLC purchased a new position in Flutter Entertainment in the 3rd quarter valued at approximately $11,517,000. TimesSquare Capital Management LLC increased its stake in Flutter Entertainment by 294.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after purchasing an additional 282,736 shares in the last quarter. AGF Management Ltd. purchased a new position in Flutter Entertainment in the 3rd quarter valued at approximately $9,519,000. Mutual of America Capital Management LLC purchased a new position in Flutter Entertainment in the 3rd quarter valued at approximately $2,173,000. Finally, Federated Hermes Inc. purchased a new position in Flutter Entertainment in the 3rd quarter valued at approximately $169,777,000.

Insider Activity at Flutter Entertainment

In other news, CFO Robert Coldrake sold 4,613 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total transaction of $491,053.85. Following the sale, the chief financial officer owned 10,006 shares in the company, valued at $1,065,138.70. This trade represents a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the firm’s 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 sale, the chief executive officer owned 36,788 shares in the company, valued at $3,973,104. This trade represents a 10.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 22,306 shares valued at $2,333,598. 0.09% of the stock is currently owned by corporate insiders.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $92.44 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day moving average of $105.39 and a two-hundred day moving average of $160.11. The company has a market capitalization of $16.08 billion, a price-to-earnings ratio of -43.19, a PEG ratio of 1.16 and a beta of 1.58. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly 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. 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%.Flutter Entertainment’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.59 earnings per share. On average, analysts anticipate that Flutter Entertainment PLC will post 4.88 EPS for the current fiscal year.

Flutter Entertainment announced that its board has initiated a stock repurchase program on Wednesday, March 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FLUT. Truist Financial dropped their price objective on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Stifel Nicolaus dropped their price objective on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Barclays dropped their price objective on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Bank of America dropped their price target on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group dropped their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.26.

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.