Dimensional Fund Advisors LP Acquires 343,998 Shares of Flutter Entertainment PLC $FLUT

Key Points

• Dimensional Fund Advisors increased its stake in Flutter by 71.7%, buying 343,998 shares to own 823,587 shares (about $209.3 million or ~0.47% of the company) in the third quarter.
• Flutter missed recent quarterly expectations, reporting $1.74 EPS vs. $2.11 expected and revenue of $4.74 billion (vs. $4.87B est.), with revenue up 24.9% YoY but a negative net margin of -1.89%; the stock opened at $112.25 and has a market cap of $19.68 billion.
• Analysts are mixed but the consensus is a "Moderate Buy" with an average price target of $234.65, although several firms have recently cut their targets and ratings.

Dimensional Fund Advisors LP lifted its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 71.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 823,587 shares of the company's stock after buying an additional 343,998 shares during the period. Dimensional Fund Advisors LP owned about 0.47% of Flutter Entertainment worth $209,320,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of FLUT. JFS Wealth Advisors LLC acquired a new stake in Flutter Entertainment in the third quarter valued at about $27,000. JCIC Asset Management Inc. acquired a new position in Flutter Entertainment during the third quarter worth about $32,000. Atlantic Union Bankshares Corp acquired a new position in Flutter Entertainment during the third quarter worth about $34,000. ORG Partners LLC lifted its holdings in shares of Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company's stock worth $36,000 after acquiring an additional 43 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Flutter Entertainment by 116.4% in the second quarter. Allworth Financial LP now owns 145 shares of the company's stock worth $41,000 after acquiring an additional 78 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FLUT shares. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $170.00 price target on shares of Flutter Entertainment in a report on Friday, February 6th. Stifel Nicolaus dropped their price objective on shares of Flutter Entertainment from $304.00 to $259.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Weiss Ratings restated a "sell (d-)" rating on shares of Flutter Entertainment in a research report on Monday, December 29th. Citizens Jmp cut their target price on shares of Flutter Entertainment from $275.00 to $195.00 and set a "market outperform" rating on the stock in a research report on Friday, February 27th. Finally, Benchmark decreased their target price on shares of Flutter Entertainment from $285.00 to $175.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $234.65.

Flutter Entertainment Stock Performance

Flutter Entertainment stock opened at $112.25 on Friday. The business has a 50 day moving average of $163.36 and a 200-day moving average of $217.01. The company has a market capitalization of $19.68 billion, a P/E ratio of -62.36, a P/E/G ratio of 0.76 and a beta of 2.30. Flutter Entertainment PLC has a 1 year low of $99.96 and a 1 year high of $313.68. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $1.74 EPS 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 $4.74 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the prior year, the business earned $2.94 earnings per share. The firm's quarterly revenue was up 24.9% on a year-over-year basis. On average, equities research analysts predict that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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.

Want to see what other hedge funds are holding FLUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flutter Entertainment PLC (NYSE:FLUT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.