Groupe la Francaise Reduces Stock Position in Flutter Entertainment PLC $FLUT

Key Points

• Groupe la Francaise reduced its Flutter Entertainment stake by 94.5% in the first quarter, selling 34,366 shares and retaining 1,985 shares valued at approximately $202,000.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $176, despite some firms lowering ratings or price objectives.
• Flutter reported quarterly revenue of $4.30 billion, up 17.4% year over year, and earnings of $1.22 per share, exceeding estimates; meanwhile, the CEO and COO purchased company shares in May.

Groupe la Francaise cut its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 94.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,985 shares of the company's stock after selling 34,366 shares during the quarter. Groupe la Francaise's holdings in Flutter Entertainment were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Zions Bancorporation National Association UT raised its position in Flutter Entertainment by 1,685.7% during the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company's stock valued at $27,000 after purchasing an additional 118 shares during the last quarter. EFG International AG purchased a new position in shares of Flutter Entertainment during the fourth quarter valued at approximately $36,000. IFP Advisors Inc raised its holdings in shares of Flutter Entertainment by 93.8% during the fourth quarter. IFP Advisors Inc now owns 186 shares of the company's stock valued at $40,000 after acquiring an additional 90 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Flutter Entertainment by 83.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company's stock valued at $42,000 after acquiring an additional 75 shares in the last quarter. Finally, LM Advisors LLC purchased a new stake in Flutter Entertainment in the fourth quarter worth $46,000.

Wall Street Analyst Weigh In

FLUT has been the topic of a number of research analyst reports. Truist Financial reduced their price objective on shares of Flutter Entertainment from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, May 7th. Barclays raised their target price on shares of Flutter Entertainment from $150.00 to $151.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $167.00 price target on shares of Flutter Entertainment in a research report on Friday, May 8th. Moffett Nathanson lowered shares of Flutter Entertainment from a "buy" rating to a "neutral" rating and set a $127.00 price objective for the company. in a report on Friday, April 24th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $176.00.

Insider Activity

In related news, CEO Daniel Mark Taylor acquired 1,611 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $94.29 per share, with a total value of $151,901.19. Following the transaction, the chief executive officer directly owned 34,584 shares in the company, valued at approximately $3,260,925.36. This represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO James Philip Bishop acquired 1,000 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $99.75 per share, with a total value of $99,750.00. Following the purchase, the chief operating officer directly owned 17,605 shares of the company's stock, valued at $1,756,098.75. The trade was a 6.02% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. Company insiders own 0.13% of the company's stock.

Flutter Entertainment Stock Up 2.2%

NYSE:FLUT opened at $104.39 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The firm's 50-day moving average price is $104.29 and its 200-day moving average price is $117.08. The company has a market capitalization of $18.16 billion, a PE ratio of -48.78, a P/E/G ratio of 1.43 and a beta of 1.31. Flutter Entertainment PLC has a 1-year low of $91.52 and a 1-year high of $313.68.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment's quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 earnings per share. On average, equities analysts predict that Flutter Entertainment PLC will post 4.72 EPS for the current fiscal year.

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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