Danske Bank A S Increases Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Danske Bank A/S increased its stake in Flutter by 58.3%, buying 28,200 shares to own 76,603 shares valued at about $16.47 million.
• Insiders, including CEOs Amy Howe (8,895 shares for ~$942k) and Jeremy Peter Jackson (4,326 shares for ~$467k), sold stock on March 11; insiders have sold 17,834 shares (~$1.90M) over the last 90 days and now own 0.09% of the company.
• Flutter missed quarterly expectations (EPS $1.74 vs. $2.11 estimate; revenue $4.76B vs. $4.87B est.), but the board authorized a $250 million share buyback (up to ~1.3% of shares outstanding).

Danske Bank A S grew its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 58.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,603 shares of the company's stock after buying an additional 28,200 shares during the quarter. Danske Bank A S's holdings in Flutter Entertainment were worth $16,473,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC grew its holdings in Flutter Entertainment by 43.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the company's stock valued at $36,000 after purchasing an additional 43 shares during the last quarter. MML Investors Services LLC grew its holdings in Flutter Entertainment by 0.6% during the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company's stock valued at $2,024,000 after purchasing an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in Flutter Entertainment by 1.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company's stock valued at $1,030,000 after purchasing an additional 49 shares during the last quarter. Versant Capital Management Inc grew its holdings in Flutter Entertainment by 5.6% during the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company's stock valued at $240,000 after purchasing an additional 50 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in Flutter Entertainment by 5.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company's stock valued at $273,000 after purchasing an additional 58 shares during the last quarter.

Insider Activity at Flutter Entertainment

In related news, CEO Amy Howe sold 8,895 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total transaction of $942,069.45. Following the completion of the sale, the chief executive officer owned 78,889 shares of the company's stock, valued at $8,355,133.99. This represents a 10.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total transaction of $467,208.00. Following the sale, the chief executive officer directly owned 36,788 shares of the company's stock, valued at $3,973,104. The trade was a 10.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,834 shares of company stock valued at $1,900,331 over the last 90 days. Insiders own 0.09% of the company's stock.

Flutter Entertainment Price Performance

Shares of FLUT opened at $106.19 on Monday. The company has a 50 day moving average price of $108.54 and a 200-day moving average price of $169.16. Flutter Entertainment PLC has a fifty-two week low of $98.88 and a fifty-two week high of $313.68. The stock has a market capitalization of $18.52 billion, a PE ratio of -59.00, a PEG ratio of 1.63 and a beta of 1.59. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Friday, February 27th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The business had revenue of $4.76 billion during the quarter, compared to analysts' expectations of $4.87 billion. During the same period in the previous year, the company posted $2.94 EPS. Flutter Entertainment's revenue for the quarter was up 24.9% on a year-over-year basis. Equities analysts predict that Flutter Entertainment PLC will post 5.14 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has approved a share buyback plan on Wednesday, March 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

FLUT has been the topic of several analyst reports. Susquehanna cut their price target on shares of Flutter Entertainment from $160.00 to $143.00 and set a "positive" rating on the stock in a report on Tuesday, March 31st. Kepler Capital Markets downgraded shares of Flutter Entertainment from a "strong-buy" rating to a "hold" rating in a report on Monday, March 16th. Oppenheimer cut their price target on shares of Flutter Entertainment from $210.00 to $160.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Barclays cut their price target on shares of Flutter Entertainment from $225.00 to $175.00 and set an "overweight" rating on the stock in a report on Thursday, April 16th. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $170.00 price objective on shares of Flutter Entertainment in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $209.29.

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.

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