Flutter Entertainment PLC $FLUT Shares Sold by Nordflint Capital Partners Fondsmaeglerselskab A S

Nordflint Capital Partners Fondsmaeglerselskab A S lowered its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 6.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,835,898 shares of the company’s stock after selling 126,400 shares during the quarter. Flutter Entertainment accounts for approximately 100.0% of Nordflint Capital Partners Fondsmaeglerselskab A S’s investment portfolio, making the stock its largest position. Nordflint Capital Partners Fondsmaeglerselskab A S owned approximately 1.06% of Flutter Entertainment worth $187,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. AlphaGrep UK Ltd acquired a new stake in Flutter Entertainment in the 2nd quarter valued at about $203,000. TD Waterhouse Canada Inc. raised its holdings in shares of Flutter Entertainment by 65.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 630 shares of the company’s stock worth $67,000 after purchasing an additional 250 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $235,000. Public Employees Retirement System of Ohio bought a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $9,881,000. Finally, Parvus Asset Management Jersey Ltd acquired a new stake in Flutter Entertainment during the second quarter valued at approximately $1,552,097,267.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FLUT. Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Benchmark dropped their price target on Flutter Entertainment from $132.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th. Jefferies Financial Group reissued a “buy” rating and set a $180.00 price objective on shares of Flutter Entertainment in a research note on Sunday, August 9th. Finally, Barclays decreased their target price on Flutter Entertainment from $151.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.88.

Insider Transactions at Flutter Entertainment

In related news, insider Don Liu sold 565 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $55,290.90. Following the transaction, the insider owned 20,441 shares of the company’s stock, valued at approximately $2,000,356.26. This trade represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Bishop sold 741 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $97.86, for a total transaction of $72,514.26. Following the completion of the sale, the chief operating officer owned 16,864 shares of the company’s stock, valued at $1,650,311.04. This trade represents a 4.21% 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. Insiders have sold a total of 6,681 shares of company stock valued at $644,214 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Flutter Entertainment Stock Performance

FLUT stock opened at $100.32 on Tuesday. The firm has a 50 day simple moving average of $102.56 and a 200 day simple moving average of $104.42. The stock has a market cap of $17.41 billion, a P/E ratio of -23.33, a P/E/G ratio of 2.54 and a beta of 1.26. Flutter Entertainment PLC has a 52 week low of $89.71 and a 52 week high of $297.23. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.89.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). Flutter Entertainment had a negative net margin of 4.39% and a positive return on equity of 7.27%. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the firm earned $2.95 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Research analysts anticipate that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.

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.