PFA Pension Forsikringsaktieselskab Acquires Shares of 35,314 Flutter Entertainment PLC $FLUT

PFA Pension Forsikringsaktieselskab purchased a new stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 35,314 shares of the company's stock, valued at approximately $7,679,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Danske Bank A S lifted its holdings in shares of Flutter Entertainment by 58.3% during the 4th quarter. Danske Bank A S now owns 76,603 shares of the company's stock worth $16,473,000 after acquiring an additional 28,200 shares during the period. Wealth High Governance Capital Ltda bought a new position in shares of Flutter Entertainment in the fourth quarter worth about $5,249,000. M&T Bank Corp bought a new position in shares of Flutter Entertainment in the fourth quarter worth about $536,000. Advisors Capital Management LLC lifted its stake in Flutter Entertainment by 4.9% in the 4th quarter. Advisors Capital Management LLC now owns 14,121 shares of the company's stock valued at $3,037,000 after purchasing an additional 659 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in shares of Flutter Entertainment by 34.2% in the 4th quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company's stock valued at $32,467,000 after acquiring an additional 38,469 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FLUT shares. Susquehanna dropped their price objective on shares of Flutter Entertainment from $160.00 to $143.00 and set a "positive" rating for the company in a report on Tuesday, March 31st. Barclays decreased their price target on Flutter Entertainment from $225.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, April 16th. Zacks Research lowered shares of Flutter Entertainment from a "hold" rating to a "strong sell" rating in a report on Monday, January 19th. BTIG Research lowered their target price on shares of Flutter Entertainment from $180.00 to $177.00 and set a "buy" rating for the company in a research note on Thursday, March 26th. Finally, UBS Group dropped their price objective on Flutter Entertainment from $300.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Flutter Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $209.29.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $104.47 on Tuesday. Flutter Entertainment PLC has a 52 week low of $98.88 and a 52 week high of $313.68. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average price of $108.54 and a 200-day moving average price of $169.16. The company has a market cap of $18.22 billion, a PE ratio of -58.04, a price-to-earnings-growth ratio of 1.63 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last announced its quarterly earnings results on Friday, February 27th. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company posted $2.94 EPS. The company's quarterly revenue was up 24.9% compared to the same quarter last year. Equities analysts anticipate that Flutter Entertainment PLC will post 5.14 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 4,326 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the completion of the transaction, the chief executive officer owned 36,788 shares in the company, valued at $3,973,104. This represents a 10.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amy Howe sold 8,895 shares of the firm's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total transaction of $942,069.45. Following the sale, the chief executive officer owned 78,889 shares of the company's stock, valued at $8,355,133.99. This trade represents a 10.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,834 shares of company stock valued at $1,900,331 in the last 90 days. 0.09% of the stock is currently 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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