Swiss National Bank Acquires 32,480 Shares of Flutter Entertainment PLC $FLUT

Swiss National Bank raised its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 490,422 shares of the company’s stock after purchasing an additional 32,480 shares during the period. Swiss National Bank owned 0.28% of Flutter Entertainment worth $49,999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FLUT. Cibc World Markets Corp bought a new position in Flutter Entertainment in the 4th quarter worth approximately $1,678,841,000. Hsbc Holdings PLC raised its holdings in Flutter Entertainment by 33,988.7% during the 1st quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after acquiring an additional 5,589,099 shares during the period. Capital International Investors lifted its position in shares of Flutter Entertainment by 146.8% during the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock worth $1,728,772,000 after acquiring an additional 4,782,302 shares in the last quarter. Norges Bank purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth $694,009,000. Finally, Durable Capital Partners LP boosted its holdings in shares of Flutter Entertainment by 274.2% in the third quarter. Durable Capital Partners LP now owns 1,243,988 shares of the company’s stock worth $315,973,000 after acquiring an additional 911,507 shares during the period.

Flutter Entertainment Trading Down 1.0%

Flutter Entertainment stock opened at $99.94 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. The stock has a market cap of $17.39 billion, a P/E ratio of -46.70, a PEG ratio of 1.35 and a beta of 1.31. The firm’s fifty day moving average price is $103.11 and its 200-day moving average price is $121.93.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the company earned $1.59 earnings per share. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts forecast that Flutter Entertainment PLC will post 4.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FLUT has been the subject of several recent research reports. Wedbush reiterated an “outperform” rating and issued a $138.00 price target on shares of Flutter Entertainment in a research report on Friday, July 17th. Freedom Capital upgraded Flutter Entertainment to a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. BTIG Research reduced their target price on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, Zacks Research upgraded Flutter Entertainment from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.26.

Insider Transactions at Flutter Entertainment

In related news, CEO Daniel Mark Taylor acquired 1,611 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average cost of $94.29 per share, for a total transaction of $151,901.19. Following the completion of the transaction, the chief executive officer owned 34,584 shares in the company, valued at approximately $3,260,925.36. This trade represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the sale, the chief executive officer directly owned 74,326 shares in the company, valued at $7,293,610.38. This represents a 3.98% 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 bought 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 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.