Forsta AP Fonden Has $7.84 Million Stock Holdings in Flutter Entertainment PLC $FLUT

Key Points

• Forsta AP Fonden cut its Flutter Entertainment stake by 58.3% in the fourth quarter, selling 50,940 shares and ending with 36,460 shares valued at about $7.84 million.
• Flutter reported strong quarterly results, with EPS of $1.22 beating estimates and revenue of $4.30 billion topping forecasts; revenue also rose 17.4% year over year.
• Analysts remain cautiously positive despite multiple price-target cuts, with Flutter holding a consensus rating of “Moderate Buy” and an average target price of $189.26.

Forsta AP Fonden decreased its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 58.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,460 shares of the company's stock after selling 50,940 shares during the quarter. Forsta AP Fonden's holdings in Flutter Entertainment were worth $7,840,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FLUT. MassMutual Private Wealth & Trust FSB lifted its position in shares of Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company's stock worth $25,000 after buying an additional 79 shares in the last quarter. JFS Wealth Advisors LLC bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth approximately $27,000. Atlantic Union Bankshares Corp bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth approximately $34,000. IFP Advisors Inc raised its holdings in shares of Flutter Entertainment by 93.8% in the 4th quarter. IFP Advisors Inc now owns 186 shares of the company's stock worth $40,000 after purchasing an additional 90 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company's stock valued at $42,000 after buying an additional 75 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on FLUT shares. Barclays reduced their price target on shares of Flutter Entertainment from $175.00 to $150.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $167.00 target price on shares of Flutter Entertainment in a research report on Friday, May 8th. Truist Financial lowered their price target on shares of Flutter Entertainment from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, May 7th. UBS Group lowered their price target on shares of Flutter Entertainment from $300.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, March 25th. Finally, Canaccord Genuity Group lowered their price target on shares of Flutter Entertainment from $270.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $189.26.

Flutter Entertainment Trading Up 7.3%

NYSE:FLUT opened at $104.04 on Tuesday. The company's 50 day moving average price is $102.82 and its 200-day moving average price is $149.37. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock has a market cap of $18.10 billion, a price-to-earnings ratio of -48.62, a PEG ratio of 1.28 and a beta of 1.40.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 earnings per share. On average, equities research analysts forecast that Flutter Entertainment PLC will post 4.88 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Flutter Entertainment news, 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 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 $3,260,925.36. This trade represents a 4.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amy Howe sold 8,895 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total transaction of $942,069.45. Following the completion of the transaction, the chief executive officer directly owned 78,889 shares in the company, valued at approximately $8,355,133.99. The trade was a 10.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders bought 10,453 shares of company stock worth $1,045,526 and sold 23,828 shares worth $2,477,625. Corporate insiders own 0.13% of the company's stock.

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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