Riposte Capital LLC Acquires Shares of 75,000 Flutter Entertainment PLC $FLUT

Riposte Capital LLC bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 75,000 shares of the company’s stock, valued at approximately $7,646,000. Flutter Entertainment accounts for 1.9% of Riposte Capital LLC’s investment portfolio, making the stock its 15th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Flutter Entertainment in the 4th quarter worth about $694,009,000. Peregrine Capital Management LLC boosted its position in Flutter Entertainment by 34.2% during 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 in the last quarter. Capricorn Fund Managers Ltd purchased a new position in shares of Flutter Entertainment during the 1st quarter worth approximately $3,670,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Flutter Entertainment by 53.3% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,054 shares of the company’s stock valued at $6,530,000 after purchasing an additional 22,270 shares during the period. Finally, TimesSquare Capital Management LLC boosted its position in shares of Flutter Entertainment by 5.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 399,081 shares of the company’s stock valued at $85,818,000 after purchasing an additional 20,203 shares in the last quarter.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, Director Carolan Lennon sold 439 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $94.63, for a total transaction of $41,542.57. Following the completion of the transaction, the director owned 1,688 shares in the company, valued at $159,735.44. This trade represents a 20.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Don H. Liu sold 1,259 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $93.37, for a total transaction of $117,552.83. Following the completion of the transaction, the insider directly owned 21,006 shares of the company’s stock, valued at approximately $1,961,330.22. This trade represents a 5.65% decrease in their ownership of the stock. 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. Over the last 90 days, insiders bought 10,453 shares of company stock worth $1,045,526 and sold 5,994 shares worth $577,293. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on FLUT shares. Citizens Jmp lowered their price objective on Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 8th. Sanford C. Bernstein cut their price objective on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, May 7th. Oppenheimer lowered their target price on shares of Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a report on Monday, April 13th. BTIG Research cut their price target on Flutter Entertainment from $126.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $167.00 target price on shares of Flutter Entertainment in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $176.00.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $109.01 on Wednesday. The firm’s 50 day moving average price is $103.83 and its 200-day moving average price is $118.73. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $18.97 billion, a PE ratio of -50.94, a price-to-earnings-growth ratio of 1.45 and a beta of 1.31. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the business posted $1.59 earnings per share. The business’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts expect that Flutter Entertainment PLC will post 4.72 EPS for the current 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.