Korea Investment CORP Lowers Stock Position in Flutter Entertainment PLC $FLUT

Key Points

• Korea Investment CORP trimmed its stake in Flutter by 34.2%, selling 73,160 shares in Q3 and now holds 140,973 shares (~0.08%) valued at about $35.8 million.
• Flutter's most recent quarter missed expectations—EPS $1.74 vs. $2.11 consensus and revenue $4.74B vs. $4.87B—despite revenue rising 24.9% year-over-year and the company reporting a negative net margin.
• Analyst coverage is mixed: MarketBeat shows a consensus rating of "Moderate Buy" with an average target of $234.65, while broker notes include several price-target cuts and ratings ranging from Strong Buy to Sell (3 strong buy, 15 buy, 5 hold, 2 sell).

Korea Investment CORP trimmed its holdings in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 34.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,973 shares of the company's stock after selling 73,160 shares during the quarter. Korea Investment CORP owned approximately 0.08% of Flutter Entertainment worth $35,807,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. JFS Wealth Advisors LLC purchased a new position in Flutter Entertainment during the 3rd quarter worth $27,000. JCIC Asset Management Inc. purchased a new stake in shares of Flutter Entertainment in the third quarter valued at about $32,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Flutter Entertainment during the third quarter worth about $34,000. ORG Partners LLC boosted its stake in shares of Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company's stock worth $36,000 after buying an additional 43 shares during the period. Finally, First Horizon Corp purchased a new position in shares of Flutter Entertainment during the third quarter worth about $39,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FLUT. Canaccord Genuity Group dropped their price target on Flutter Entertainment from $270.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, March 2nd. Texas Capital upgraded Flutter Entertainment to a "strong-buy" rating in a research note on Thursday, January 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of Flutter Entertainment in a report on Monday, December 29th. Zacks Research cut Flutter Entertainment from a "hold" rating to a "strong sell" rating in a research note on Monday, January 19th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $228.00 price target (down from $248.00) on shares of Flutter Entertainment in a report on Wednesday, January 14th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Flutter Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $234.65.

Flutter Entertainment Price Performance

Shares of FLUT opened at $109.60 on Tuesday. Flutter Entertainment PLC has a twelve month low of $99.96 and a twelve month high of $313.68. The stock's 50 day moving average is $161.21 and its two-hundred day moving average is $215.16. The firm has a market capitalization of $19.21 billion, a PE ratio of -60.89, a P/E/G ratio of 0.76 and a beta of 2.32. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.37). The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The business's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.94 EPS. Research analysts anticipate 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.

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