15,589 Shares in Flutter Entertainment PLC $FLUT Purchased by BW Gestao de Investimentos Ltda.

Key Points

• BW Gestao de Investimentos Ltda. opened a new position in Flutter Entertainment, buying 15,589 shares valued at about $3.35 million in the fourth quarter.
• Institutional interest remains strong, with several large funds such as Vanguard, Wellington, Capital International Investors, Norges Bank, and State Street increasing or initiating positions in the stock.
• Flutter reported a better-than-expected quarter, with EPS of $1.22 versus $1.09 expected and revenue of $4.30 billion, while analysts currently rate the stock Moderate Buy with a consensus price target of $189.26.

BW Gestao de Investimentos Ltda. bought a new position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,589 shares of the company's stock, valued at approximately $3,352,000.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Flutter Entertainment by 1.7% during the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company's stock valued at $4,460,076,000 after buying an additional 301,879 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Flutter Entertainment by 5.5% during the third quarter. Wellington Management Group LLP now owns 3,519,434 shares of the company's stock valued at $903,694,000 after buying an additional 182,594 shares during the last quarter. Capital International Investors grew its stake in shares of Flutter Entertainment by 4.9% during the third quarter. Capital International Investors now owns 3,256,764 shares of the company's stock valued at $827,841,000 after buying an additional 153,390 shares during the last quarter. Norges Bank bought a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $694,009,000. Finally, State Street Corp grew its stake in shares of Flutter Entertainment by 4.5% during the third quarter. State Street Corp now owns 3,226,742 shares of the company's stock valued at $819,592,000 after buying an additional 140,012 shares during the last quarter.

Wall Street Analysts Forecast Growth

FLUT has been the topic of a number of analyst reports. Kepler Capital Markets cut Flutter Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. Oppenheimer dropped their price objective on Flutter Entertainment from $210.00 to $160.00 and set an "outperform" rating on the stock in a research note on Monday, April 13th. Barclays dropped their price objective on Flutter Entertainment from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. BNP Paribas Exane assumed coverage on Flutter Entertainment in a research note on Thursday, May 14th. They issued an "underperform" rating and a $80.00 price objective on the stock. Finally, Canaccord Genuity Group dropped their price objective on Flutter Entertainment from $270.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given 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, Flutter Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $189.26.

Flutter Entertainment Stock Down 2.1%

Shares of NYSE FLUT opened at $102.16 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $17.77 billion, a PE ratio of -47.74, a price-to-earnings-growth ratio of 1.38 and a beta of 1.40. The stock's fifty day simple moving average is $102.82 and its two-hundred day simple moving average is $149.37. Flutter Entertainment PLC has a 12-month low of $91.52 and a 12-month high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion for the quarter, compared to analysts' expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business's revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 EPS. As a group, analysts expect that Flutter Entertainment PLC will post 4.88 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a share buyback 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other Flutter Entertainment news, CEO Daniel Mark Taylor acquired 1,611 shares of the firm's stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the acquisition, the chief executive officer owned 34,584 shares in the company, valued at approximately $3,260,925.36. This trade represents a 4.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carolan Lennon sold 439 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $94.63, for a total value of $41,542.57. Following the sale, the director owned 1,688 shares of the company's stock, valued at approximately $159,735.44. This represents a 20.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have bought 10,453 shares of company stock worth $1,045,526 and have sold 23,828 shares worth $2,477,625. 0.13% of the stock is currently owned by company insiders.

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.

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