Vanguard Group Inc. lowered its position in shares of Flutter Entertainment PLC (NYSE:FLUT - Free Report) by 64.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,434,802 shares of the company's stock after selling 6,156,984 shares during the quarter. Vanguard Group Inc. owned 1.94% of Flutter Entertainment worth $760,980,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Capital World Investors lifted its holdings in shares of Flutter Entertainment by 11.9% in the fourth quarter. Capital World Investors now owns 15,426,515 shares of the company's stock worth $3,986,968,000 after buying an additional 1,635,241 shares in the last quarter. Parvus Asset Management Europe Ltd purchased a new position in shares of Flutter Entertainment in the fourth quarter worth $2,146,227,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Flutter Entertainment by 5.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,230,587 shares of the company's stock worth $715,737,000 after buying an additional 167,621 shares in the last quarter. Egerton Capital UK LLP lifted its holdings in shares of Flutter Entertainment by 16.9% in the first quarter. Egerton Capital UK LLP now owns 2,193,794 shares of the company's stock worth $486,035,000 after buying an additional 316,411 shares in the last quarter. Finally, Lone Pine Capital LLC purchased a new position in shares of Flutter Entertainment in the fourth quarter worth $494,291,000.
Flutter Entertainment Trading Down 1.4%
Shares of NYSE FLUT traded down $4.20 during mid-day trading on Thursday, reaching $289.52. The company had a trading volume of 1,791,608 shares, compared to its average volume of 2,322,799. The business's 50-day moving average is $286.69 and its 200-day moving average is $260.94. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market cap of $50.98 billion, a price-to-earnings ratio of 142.62, a price-to-earnings-growth ratio of 1.22 and a beta of 2.31. Flutter Entertainment PLC has a 52 week low of $196.88 and a 52 week high of $313.68.
Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The firm had revenue of $4.19 billion for the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The firm's revenue was up 16.0% on a year-over-year basis. Equities analysts expect that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.
Flutter Entertainment declared that its Board of Directors has initiated a stock buyback program on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 0.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Insider Transactions at Flutter Entertainment
In other news, Director Carolan Lennon sold 430 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total value of $105,655.30. Following the transaction, the director directly owned 769 shares in the company, valued at approximately $188,950.99. This represents a 35.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James Philip Bishop sold 1,904 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $281.64, for a total transaction of $536,242.56. Following the completion of the transaction, the insider owned 4,712 shares in the company, valued at approximately $1,327,087.68. The trade was a 28.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,642 shares of company stock valued at $5,490,473. Company insiders own 0.09% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Benchmark reissued a "buy" rating and issued a $365.00 target price (up previously from $300.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Stifel Nicolaus set a $356.00 target price on shares of Flutter Entertainment and gave the stock a "buy" rating in a report on Friday, August 8th. Bank of America boosted their target price on shares of Flutter Entertainment from $295.00 to $330.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Jefferies Financial Group assumed coverage on shares of Flutter Entertainment in a research note on Tuesday, July 8th. They set a "buy" rating and a $380.00 price target on the stock. Finally, Barclays upped their price target on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $328.62.
Get Our Latest Stock Analysis on FLUT
Flutter Entertainment Company Profile
(
Free Report)
Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.
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