Vanderbilt University Makes New $6.33 Million Investment in Flutter Entertainment PLC $FLUT

Vanderbilt University acquired a new stake in Flutter Entertainment PLC (NYSE:FLUT) in the first quarter, HoldingsChannel.com reports. The firm acquired 62,326 shares of the company’s stock, valued at approximately $6,334,000. Flutter Entertainment makes up about 1.2% of Vanderbilt University’s investment portfolio, making the stock its 14th largest position.

Several other large investors have also modified their holdings of FLUT. Norges Bank acquired a new position in shares of Flutter Entertainment during the fourth quarter worth about $694,009,000. Peregrine Capital Management LLC lifted its position in Flutter Entertainment by 34.2% in the fourth quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock valued at $32,467,000 after purchasing an additional 38,469 shares during the period. Hudson Bay Capital Management LP lifted its position in Flutter Entertainment by 6.2% in the third quarter. Hudson Bay Capital Management LP now owns 395,120 shares of the company’s stock valued at $100,360,000 after purchasing an additional 23,237 shares during the period. TimesSquare Capital Management LLC boosted its holdings in Flutter Entertainment by 5.3% in the 4th 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. Finally, First Trust Advisors LP boosted its holdings in Flutter Entertainment by 3.4% in the 3rd quarter. First Trust Advisors LP now owns 551,667 shares of the company’s stock valued at $140,123,000 after purchasing an additional 17,913 shares in the last quarter.

Insiders Place Their Bets

In other news, COO James Philip Bishop acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $99.75 per share, with a total value of $99,750.00. Following the purchase, the chief operating officer directly owned 17,605 shares of the company’s stock, valued at approximately $1,756,098.75. This trade represents a 6.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Don H. Liu sold 1,259 shares of Flutter Entertainment stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total value of $117,552.83. Following the transaction, the insider directly owned 21,006 shares of the company’s stock, valued at approximately $1,961,330.22. This represents a 5.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have acquired 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is currently owned by insiders.

Flutter Entertainment Trading Up 0.6%

Shares of FLUT opened at $98.47 on Thursday. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $17.13 billion, a P/E ratio of -46.02, a PEG ratio of 1.27 and a beta of 1.40. The firm’s 50-day moving average is $102.71 and its two-hundred day moving average is $137.72.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $1.59 EPS. On average, research analysts predict that Flutter Entertainment PLC will post 5 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group cut their target price on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Susquehanna decreased their price target on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating on the stock in a research note on Tuesday, March 31st. BTIG Research dropped their price objective on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flutter Entertainment in a report on Wednesday, May 27th. Finally, UBS Group cut their price objective on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $187.42.

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.