SG Americas Securities LLC Has $124.64 Million Position in Flutter Entertainment PLC $FLUT

Key Points

• SG Americas Securities LLC increased its stake in Flutter Entertainment by 2,583.5% in Q4 to 579,633 shares, a position worth about $124.64 million (roughly 0.33% of the company).
• Flutter reported quarterly EPS of $1.74, missing the consensus of $2.11, and revenue of $4.74 billion also missed estimates despite a 24.9% year-over-year revenue increase.
• The Board authorized a $250 million share buyback (up to 1.3% of shares), even as insiders have sold stock recently, combining management buyback action with notable insider liquidity moves.

SG Americas Securities LLC lifted its stake in Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 2,583.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 579,633 shares of the company's stock after buying an additional 558,033 shares during the period. SG Americas Securities LLC owned about 0.33% of Flutter Entertainment worth $124,644,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FLUT. Makena Capital Management LLC bought a new stake in shares of Flutter Entertainment during the third quarter valued at approximately $11,517,000. TimesSquare Capital Management LLC lifted its position in Flutter Entertainment by 294.1% in the third quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company's stock worth $96,235,000 after purchasing an additional 282,736 shares during the period. AGF Management Ltd. bought a new position in Flutter Entertainment in the third quarter worth $9,519,000. Mutual of America Capital Management LLC acquired a new stake in Flutter Entertainment during the third quarter worth $2,173,000. Finally, Federated Hermes Inc. acquired a new stake in Flutter Entertainment during the third quarter worth $169,777,000.

Flutter Entertainment Stock Up 4.4%

Shares of NYSE FLUT opened at $109.43 on Tuesday. Flutter Entertainment PLC has a 52-week low of $99.96 and a 52-week high of $313.68. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95. The business has a fifty day moving average of $139.56 and a two-hundred day moving average of $201.49. The stock has a market cap of $19.18 billion, a PE ratio of -60.79, a PEG ratio of 0.71 and a beta of 2.32.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.87 billion. Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The firm's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.94 EPS. As a group, equities research analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

FLUT has been the topic of several analyst reports. Craig Hallum lowered shares of Flutter Entertainment from a "buy" rating to a "hold" rating and set a $200.00 price target on the stock. in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Flutter Entertainment in a report on Monday, December 29th. Sanford C. Bernstein reiterated a "market perform" rating and set a $170.00 target price on shares of Flutter Entertainment in a research report on Friday, February 6th. Texas Capital raised shares of Flutter Entertainment to a "strong-buy" rating in a research note on Thursday, January 8th. Finally, Stifel Nicolaus dropped their price target on shares of Flutter Entertainment from $304.00 to $259.00 and set a "buy" rating for the company in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $234.65.

Insider Buying and Selling at Flutter Entertainment

In other news, CFO Robert Coldrake sold 4,613 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total value of $491,053.85. Following the completion of the transaction, the chief financial officer owned 10,006 shares in the company, valued at approximately $1,065,138.70. The trade was a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amy Howe sold 8,895 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total value of $942,069.45. Following the completion of the transaction, the chief executive officer directly owned 78,889 shares in the company, valued at $8,355,133.99. The trade was a 10.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,834 shares of company stock worth $1,900,331 over the last ninety days. Corporate insiders own 0.09% of the company's stock.

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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