Vanguard Group Inc. Reduces Stock Position in Flutter Entertainment PLC $FLUT

Vanguard Group Inc. decreased its position in Flutter Entertainment PLC (NYSE:FLUT) by 9.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 15,985,790 shares of the company’s stock after selling 1,573,564 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Flutter Entertainment worth $3,437,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. ORG Partners LLC grew its position in shares of Flutter Entertainment by 43.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after acquiring an additional 43 shares in the last quarter. MML Investors Services LLC grew its position in shares of Flutter Entertainment by 0.6% in the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after acquiring an additional 45 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Flutter Entertainment by 1.2% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after acquiring an additional 49 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Flutter Entertainment by 5.6% in the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock worth $240,000 after acquiring an additional 50 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in shares of Flutter Entertainment by 5.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after acquiring an additional 58 shares in the last quarter.

Insider Transactions at Flutter Entertainment

In other news, CFO Robert Coldrake sold 4,613 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total value of $491,053.85. Following the sale, the chief financial officer owned 10,006 shares of the company’s stock, valued at approximately $1,065,138.70. The trade was a 31.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amy Howe sold 8,895 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total value of $942,069.45. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 17,834 shares of company stock valued at $1,900,331. Corporate insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Down 1.8%

FLUT opened at $108.99 on Wednesday. Flutter Entertainment PLC has a one year low of $98.88 and a one year high of $313.68. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day moving average is $109.19 and its 200-day moving average is $171.17. The company has a market capitalization of $19.01 billion, a PE ratio of -60.55, a P/E/G ratio of 1.70 and a beta of 1.93.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Friday, February 27th. 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 $4.76 billion during the quarter, compared to the consensus estimate of $4.87 billion. During the same period in the prior year, the firm posted $2.94 EPS. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. On average, equities analysts predict that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment announced that its board has approved a share buyback program on Wednesday, March 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FLUT shares. Citigroup lowered Flutter Entertainment from a “buy” rating to a “sell” rating in a research report on Thursday, April 16th. Bank of America decreased their target price on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating for the company in a research report on Thursday, January 22nd. Benchmark decreased their target price on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, February 27th. BTIG Research decreased their target price on Flutter Entertainment from $180.00 to $177.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Finally, Craig Hallum lowered Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $209.29.

About Flutter Entertainment

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.