Entropy Technologies LP decreased its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 30.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,845 shares of the company's stock after selling 2,982 shares during the period. Entropy Technologies LP's holdings in Flutter Entertainment were worth $1,517,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Capital World Investors grew its stake in shares of Flutter Entertainment by 11.9% during the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock worth $3,986,968,000 after purchasing an additional 1,635,241 shares in the last quarter. Parvus Asset Management Europe Ltd acquired a new position in shares of Flutter Entertainment during the fourth quarter worth $2,146,227,000. Massachusetts Financial Services Co. MA grew its stake in shares of Flutter Entertainment by 5.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock worth $715,737,000 after purchasing an additional 167,621 shares in the last quarter. Egerton Capital UK LLP grew its stake in shares of Flutter Entertainment by 16.9% during the first quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock worth $486,035,000 after purchasing an additional 316,411 shares in the last quarter. Finally, Lone Pine Capital LLC acquired a new position in shares of Flutter Entertainment during the fourth quarter worth $494,291,000.
Flutter Entertainment Stock Up 2.0%
Shares of NYSE:FLUT traded up $5.78 during midday trading on Wednesday, hitting $294.16. 1,355,421 shares of the company's stock traded hands, compared to its average volume of 2,347,567. Flutter Entertainment PLC has a twelve month low of $196.88 and a twelve month high of $313.68. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $51.80 billion, a PE ratio of 144.91, a P/E/G ratio of 1.15 and a beta of 2.31. The firm's fifty day moving average price is $285.75 and its two-hundred day moving average price is $260.75.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.
Flutter Entertainment announced that its board has initiated a stock repurchase program on Friday, August 8th that authorizes the company to repurchase $245.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 0.5% 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.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on FLUT shares. Peel Hunt downgraded shares of Flutter Entertainment from an "add" rating to a "hold" rating in a research note on Friday, August 8th. Macquarie upped their price objective on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Jefferies Financial Group initiated coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price objective for the company. UBS Group restated a "buy" rating and issued a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Finally, Benchmark restated a "buy" rating and issued a $365.00 price objective (up previously from $300.00) on shares of Flutter Entertainment in a research note on Friday, August 8th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $328.62.
Check Out Our Latest Research Report on FLUT
Insiders Place Their Bets
In other news, Director Alfred F. Hurley, Jr. sold 265 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $243.94, for a total transaction of $64,644.10. Following the transaction, the director owned 3,518 shares in the company, valued at $858,180.92. This represents a 7.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James Philip Bishop sold 1,904 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the transaction, the insider owned 4,712 shares in the company, valued at $1,327,087.68. The trade was a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,642 shares of company stock worth $5,490,473 in the last quarter. Corporate insiders own 0.09% of the company's stock.
About Flutter Entertainment
(
Free Report)
Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.
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