Flutter Entertainment PLC $FLUT Shares Purchased by Wgi Dm LLC

Key Points

• Wgi Dm LLC increased its Flutter Entertainment stake by 4.9% in the fourth quarter, ending with 499,524 shares worth about $107.4 million. The position now makes up 8.0% of the firm’s portfolio, its fifth-largest holding.
• Flutter reported better-than-expected quarterly results, with EPS of $1.22 and revenue of $4.30 billion, both ahead of analyst estimates. Revenue rose 17.4% year over year, and the company reiterated expectations for 4.88 EPS this year.
• The company’s board approved a $250 million share repurchase plan, while insider trading was mixed: CEO Jeremy Peter Jackson sold shares and CEO Daniel Mark Taylor bought shares. Analysts currently have a consensus rating of Moderate Buy with a target price of $189.26.

Wgi Dm LLC lifted its position in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 499,524 shares of the company's stock after purchasing an additional 23,263 shares during the quarter. Flutter Entertainment makes up 8.0% of Wgi Dm LLC's investment portfolio, making the stock its 5th biggest holding. Wgi Dm LLC owned about 0.29% of Flutter Entertainment worth $107,418,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FLUT. Durable Capital Partners LP boosted its position in shares of Flutter Entertainment by 274.2% in the 3rd quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company's stock valued at $315,973,000 after purchasing an additional 911,507 shares during the period. Marshall Wace LLP boosted its position in shares of Flutter Entertainment by 112.8% in the 3rd quarter. Marshall Wace LLP now owns 1,354,073 shares of the company's stock valued at $343,935,000 after purchasing an additional 717,658 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Flutter Entertainment in the 3rd quarter valued at about $169,777,000. Squarepoint Ops LLC acquired a new stake in shares of Flutter Entertainment in the 3rd quarter valued at about $160,020,000. Finally, SG Americas Securities LLC boosted its position in shares of Flutter Entertainment by 2,583.5% in the 4th quarter. SG Americas Securities LLC now owns 579,633 shares of the company's stock valued at $124,644,000 after purchasing an additional 558,033 shares during the period.

Flutter Entertainment Stock Down 1.5%

Flutter Entertainment stock opened at $92.44 on Friday. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68. The stock has a 50 day moving average of $105.39 and a two-hundred day moving average of $160.11. 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 $16.08 billion, a price-to-earnings ratio of -43.19, a PEG ratio of 1.16 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion during 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 company's quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $1.59 EPS. As a group, research analysts expect that Flutter Entertainment PLC will post 4.88 earnings per share for the current year.

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

Analysts Set New Price Targets

Several research firms have commented on FLUT. Benchmark reduced their price objective on Flutter Entertainment from $175.00 to $132.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. Zacks Research cut Flutter Entertainment from a "hold" rating to a "strong sell" rating in a research report on Monday, January 19th. BNP Paribas Exane assumed coverage on Flutter Entertainment in a research report on Thursday. They set an "underperform" rating and a $80.00 price objective for the company. Citigroup cut Flutter Entertainment from a "buy" rating to a "sell" rating in a research report on Thursday, April 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $167.00 price objective on shares of Flutter Entertainment in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $189.26.

Insiders Place Their Bets

In other news, CEO Jeremy Peter Jackson sold 3,084 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $98.13, for a total value of $302,632.92. Following the completion of the sale, the chief executive officer directly owned 74,326 shares of the company's stock, valued at $7,293,610.38. This trade represents a 3.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Mark Taylor purchased 1,611 shares of Flutter Entertainment stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $94.29 per share, with a total value of $151,901.19. Following the completion of the acquisition, the chief executive officer directly owned 34,584 shares in the company, valued at approximately $3,260,925.36. This trade represents a 4.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 10,453 shares of company stock worth $1,045,526 and sold 22,306 shares worth $2,333,598. 0.09% of the stock is owned by corporate insiders.

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.

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