Sands Capital Management LLC Grows Stake in Flutter Entertainment PLC $FLUT

Sands Capital Management LLC lifted its stake in Flutter Entertainment PLC (NYSE:FLUT) by 0.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,126,306 shares of the company’s stock after acquiring an additional 4,669 shares during the quarter. Flutter Entertainment comprises approximately 1.5% of Sands Capital Management LLC’s portfolio, making the stock its 25th largest position. Sands Capital Management LLC’s holdings in Flutter Entertainment were worth $540,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after acquiring an additional 69 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Flutter Entertainment in the second quarter valued at $405,000. Savant Capital LLC acquired a new stake in Flutter Entertainment during the 2nd quarter valued at $909,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Flutter Entertainment by 6.6% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,853 shares of the company’s stock worth $43,679,000 after buying an additional 9,433 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Flutter Entertainment during the 2nd quarter worth $848,000.

Flutter Entertainment Stock Down 1.9%

Shares of Flutter Entertainment stock opened at $107.28 on Wednesday. The business has a 50-day moving average price of $159.01 and a 200 day moving average price of $213.81. Flutter Entertainment PLC has a fifty-two week low of $99.96 and a fifty-two week high of $313.68. The firm has a market cap of $18.81 billion, a P/E ratio of -59.60, a P/E/G ratio of 0.75 and a beta of 2.30. 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 released its earnings results on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the business earned $2.94 EPS. The company’s quarterly revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLUT has been the subject of a number of analyst reports. Susquehanna reissued a “positive” rating and issued a $228.00 price objective on shares of Flutter Entertainment in a research report on Tuesday, January 27th. Stifel Nicolaus reduced their price target on Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating for the company in a report on Friday, January 30th. Wells Fargo & Company restated an “equal weight” rating and set a $228.00 price objective (down from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. Barclays dropped their price objective on Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Finally, BTIG Research cut their target price on Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.65.

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.