WINTON GROUP Ltd Lowers Stake in Flutter Entertainment PLC $FLUT

WINTON GROUP Ltd lessened its stake in Flutter Entertainment PLC (NYSE:FLUT) by 35.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 17,183 shares of the company’s stock after selling 9,482 shares during the period. WINTON GROUP Ltd’s holdings in Flutter Entertainment were worth $1,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT boosted its position in shares of Flutter Entertainment by 1,685.7% during the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after buying an additional 118 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after buying an additional 75 shares during the period. EFG International AG acquired a new position in Flutter Entertainment during the 4th quarter worth about $36,000. IFP Advisors Inc lifted its stake in Flutter Entertainment by 93.8% during the 4th quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after acquiring an additional 90 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Flutter Entertainment by 246.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after acquiring an additional 133 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FLUT shares. Deutsche Bank Aktiengesellschaft set a $148.00 price objective on shares of Flutter Entertainment in a research note on Thursday, August 6th. Wedbush reduced their target price on shares of Flutter Entertainment from $138.00 to $126.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th. Citizens Jmp dropped their price target on shares of Flutter Entertainment from $165.00 to $159.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 8th. Finally, Stifel Nicolaus lowered their target price on Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.88.

Insider Activity at Flutter Entertainment

In related news, CEO Jeremy Jackson sold 2,112 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $93.32, for a total transaction of $197,091.84. Following the transaction, the chief executive officer owned 72,214 shares in the company, valued at $6,739,010.48. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Bishop sold 741 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $97.86, for a total value of $72,514.26. Following the transaction, the chief operating officer directly owned 16,864 shares in the company, valued at approximately $1,650,311.04. This trade represents a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 6,681 shares of company stock valued at $644,214. Corporate insiders own 0.13% of the company’s stock.

Flutter Entertainment Stock Up 1.9%

Shares of NYSE:FLUT opened at $100.58 on Friday. The firm has a 50 day simple moving average of $102.16 and a 200-day simple moving average of $103.89. Flutter Entertainment PLC has a twelve month low of $89.71 and a twelve month high of $289.60. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $17.46 billion, a PE ratio of -23.39, a P/E/G ratio of 2.50 and a beta of 1.26.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.05). Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the business earned $2.95 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts predict that Flutter Entertainment PLC will post 3.48 EPS for the current fiscal year.

About Flutter Entertainment

Flutter Entertainment plc is a global sports betting and online gaming company headquartered in Dublin, Ireland. The company provides customers with sports wagering, casino, poker, bingo and other gaming products through digital platforms, retail betting shops and other distribution channels.

Flutter’s portfolio includes brands such as FanDuel in the United States, Paddy Power and Betfair in the United Kingdom and Ireland, PokerStars internationally, Sky Betting & Gaming, Sisal and tombola.