Rhumbline Advisers Purchases 7,285 Shares of Flutter Entertainment PLC $FLUT

Rhumbline Advisers grew its position in Flutter Entertainment PLC (NYSE:FLUT) by 3.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 210,090 shares of the company’s stock after purchasing an additional 7,285 shares during the quarter. Rhumbline Advisers’ holdings in Flutter Entertainment were worth $53,363,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FLUT. JCIC Asset Management Inc. bought a new stake in shares of Flutter Entertainment in the 3rd quarter valued at $32,000. Atlantic Union Bankshares Corp bought a new position in Flutter Entertainment during the third quarter worth about $34,000. ORG Partners LLC grew its stake in Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 43 shares during the period. First Horizon Corp bought a new stake in shares of Flutter Entertainment in the third quarter worth about $39,000. Finally, Allworth Financial LP raised its position in shares of Flutter Entertainment by 116.4% during the second quarter. Allworth Financial LP now owns 145 shares of the company’s stock worth $41,000 after purchasing an additional 78 shares during the period.

Analyst Ratings Changes

Several brokerages recently issued reports on FLUT. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Monday, January 5th. Canaccord Genuity Group reduced their price target on shares of Flutter Entertainment from $300.00 to $270.00 and set a “buy” rating for the company in a report on Tuesday, February 3rd. Needham & Company LLC dropped their price objective on shares of Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Morgan Stanley cut their price objective on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Finally, HSBC upgraded Flutter Entertainment from a “hold” rating to a “buy” rating and lowered their target price for the stock from $265.00 to $228.00 in a report on Monday, November 24th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.48.

Flutter Entertainment Trading Down 11.4%

Shares of NYSE:FLUT opened at $125.23 on Friday. The company’s 50-day moving average price is $194.12 and its two-hundred day moving average price is $236.29. Flutter Entertainment PLC has a one year low of $122.55 and a one year high of $313.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $21.94 billion, a PE ratio of -96.33 and a beta of 1.88.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $1.25. Flutter Entertainment had a positive return on equity of 14.42% and a negative net margin of 0.95%.The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the business earned $1.27 earnings per share. Flutter Entertainment’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

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.