Stableford Capital II LLC Has $2.40 Million Stock Position in Flutter Entertainment PLC $FLUT

Stableford Capital II LLC increased its stake in Flutter Entertainment PLC (NYSE:FLUT) by 272.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,149 shares of the company’s stock after buying an additional 8,156 shares during the quarter. Stableford Capital II LLC’s holdings in Flutter Entertainment were worth $2,397,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Makena Capital Management LLC bought a new position in Flutter Entertainment during the third quarter worth about $11,517,000. TimesSquare Capital Management LLC lifted its position in shares of Flutter Entertainment by 294.1% in the third quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after buying an additional 282,736 shares during the last quarter. AGF Management Ltd. acquired a new stake in shares of Flutter Entertainment in the third quarter valued at approximately $9,519,000. Mutual of America Capital Management LLC bought a new position in shares of Flutter Entertainment during the 3rd quarter worth approximately $2,173,000. Finally, Federated Hermes Inc. bought a new position in shares of Flutter Entertainment during the 3rd quarter worth approximately $169,777,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FLUT. Needham & Company LLC cut their price target on Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 27th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $228.00 price objective (down from $248.00) on shares of Flutter Entertainment in a report on Wednesday, January 14th. Truist Financial dropped their price objective on shares of Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Citigroup restated an “outperform” rating on shares of Flutter Entertainment in a research note on Monday, January 5th. Finally, Benchmark decreased their price target on shares of Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.50.

Insider Buying and Selling at Flutter Entertainment

In other Flutter Entertainment news, CFO Robert Coldrake sold 4,613 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total transaction of $491,053.85. Following the transaction, the chief financial officer owned 10,006 shares in the company, valued at $1,065,138.70. This represents a 31.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amy Howe sold 8,895 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total transaction of $942,069.45. Following the transaction, the chief executive officer directly owned 78,889 shares in the company, valued at $8,355,133.99. This represents a 10.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,834 shares of company stock valued at $1,900,331 in the last quarter. Company insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Up 0.2%

FLUT stock opened at $103.60 on Friday. Flutter Entertainment PLC has a fifty-two week low of $99.96 and a fifty-two week high of $313.68. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $18.16 billion, a price-to-earnings ratio of -57.56, a PEG ratio of 0.70 and a beta of 2.30. The business’s fifty day moving average price is $133.77 and its two-hundred day moving average price is $198.83.

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

Flutter Entertainment announced that its board has authorized a share repurchase plan on Wednesday, March 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Flutter Entertainment Company 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.