National Pension Service Has $1.32 Million Holdings in Flutter Entertainment PLC $FLUT

Key Points

• National Pension Service cut its Flutter Entertainment stake by 94.8% in the second quarter, selling 234,918 shares and retaining 12,876 shares valued at approximately $1.32 million.
• Flutter reported quarterly revenue of $4.33 billion, up 3.3% year over year and above estimates, but earnings per share of $0.49 fell short of the $0.54 consensus. The company continues to have a negative net margin.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $156.88 price target, despite several recent target-price reductions. Insiders have sold 6,681 shares worth about $644,214 over the past 90 days, primarily to cover tax obligations on equity awards.

National Pension Service lessened its stake in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 94.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,876 shares of the company's stock after selling 234,918 shares during the quarter. National Pension Service's holdings in Flutter Entertainment were worth $1,316,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MML Investors Services LLC grew its holdings in Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company's stock valued at $2,024,000 after purchasing an additional 45 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company's stock worth $290,000 after acquiring an additional 69 shares during the period. Truist Financial Corp lifted its position in Flutter Entertainment by 2.8% during the 4th quarter. Truist Financial Corp now owns 2,602 shares of the company's stock worth $560,000 after acquiring an additional 72 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in 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 during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Flutter Entertainment by 0.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 9,119 shares of the company's stock valued at $1,961,000 after purchasing an additional 80 shares during the last quarter.

Flutter Entertainment Stock Up 0.0%

Shares of NYSE FLUT opened at $100.58 on Monday. The business has a fifty day moving average of $102.16 and a two-hundred day moving average of $103.81. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89. Flutter Entertainment PLC has a 52-week low of $89.71 and a 52-week high of $289.60. The stock has a market cap of $17.46 billion, a PE ratio of -23.39, a PEG ratio of 2.55 and a beta of 1.26.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.05). Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm posted $2.95 EPS. The business's revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.

Insider Transactions at Flutter Entertainment

In related news, CFO Robert Coldrake sold 710 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total transaction of $69,480.60. Following the completion of the transaction, the chief financial officer directly owned 22,778 shares in the company, valued at approximately $2,229,055.08. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu sold 565 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total value of $55,290.90. Following the completion of the sale, the insider directly owned 20,441 shares in the company, valued at approximately $2,000,356.26. This represents a 2.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 6,681 shares of company stock worth $644,214. Corporate insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FLUT shares. Benchmark dropped their price objective on Flutter Entertainment from $132.00 to $113.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Needham & Company LLC lowered their target price on Flutter Entertainment from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. UBS Group cut their price target on Flutter Entertainment from $160.00 to $140.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Citigroup reaffirmed an "outperform" rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th. Finally, Freedom Capital raised shares of Flutter Entertainment to a "hold" rating in a report on Monday, June 22nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Flutter Entertainment presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.88.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter's portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.

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