Capital Research Global Investors Decreases Holdings in Flutter Entertainment PLC $FLUT

Capital Research Global Investors trimmed its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,406,445 shares of the company’s stock after selling 175,665 shares during the quarter. Capital Research Global Investors’ holdings in Flutter Entertainment were worth $1,627,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC purchased a new stake in Flutter Entertainment during the 3rd quarter valued at about $27,000. JCIC Asset Management Inc. purchased a new stake in shares of Flutter Entertainment during the third quarter valued at approximately $32,000. Atlantic Union Bankshares Corp bought a new position in shares of Flutter Entertainment in the third quarter worth approximately $34,000. ORG Partners LLC raised its holdings in Flutter Entertainment by 43.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after buying an additional 43 shares during the last quarter. Finally, First Horizon Corp bought a new stake in Flutter Entertainment in the 3rd quarter worth $39,000.

Analysts Set New Price Targets

FLUT has been the topic of a number of research analyst reports. Truist Financial reduced their price target on Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Flutter Entertainment in a research note on Monday, December 29th. Needham & Company LLC dropped their price target on Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Barclays reduced their price objective on shares of Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Finally, BTIG Research dropped their target price on shares of Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock 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 company has a market capitalization of $19.21 billion, a P/E ratio of -60.89, a price-to-earnings-growth ratio of 0.76 and a beta of 2.32. The firm has a 50 day moving average of $161.21 and a 200 day moving average of $215.16. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31.

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

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.