Flutter Entertainment PLC $FLUT Shares Acquired by Legal & General Group Plc

Legal & General Group Plc increased its position in Flutter Entertainment PLC (NYSE:FLUT) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 966,839 shares of the company’s stock after acquiring an additional 37,105 shares during the quarter. Legal & General Group Plc’s holdings in Flutter Entertainment were worth $207,950,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. JFS Wealth Advisors LLC acquired a new stake in shares of Flutter Entertainment in the 3rd quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of Flutter Entertainment in the 3rd quarter worth approximately $34,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after acquiring an additional 75 shares during the period. Finally, IFP Advisors Inc grew its holdings in shares of Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after acquiring an additional 90 shares during the period.

Insider Transactions at Flutter Entertainment

In related news, insider Don H. Liu sold 1,259 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 21,006 shares of the company’s stock, valued at approximately $1,961,330.22. This represents a 5.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Mark Taylor bought 1,611 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the purchase, the chief executive officer owned 34,584 shares in the company, valued at $3,260,925.36. This represents a 4.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 22,306 shares worth $2,333,598. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of research reports. Needham & Company LLC lowered their price target on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Oppenheimer lowered their price target on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Truist Financial lowered their price target on Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Canaccord Genuity Group lowered their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $167.00 price target on shares of Flutter Entertainment in a report on Friday, May 8th. Two research 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.26.

Flutter Entertainment Price Performance

FLUT stock opened at $95.73 on Thursday. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68. 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’s 50 day moving average price is $103.34 and its 200 day moving average price is $152.11. The firm has a market cap of $16.65 billion, a P/E ratio of -44.73, a PEG ratio of 1.24 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the company earned $1.59 EPS. Flutter Entertainment’s revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts expect that Flutter Entertainment PLC will post 4.88 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a share 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Flutter Entertainment 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.