Capital International Investors Purchases 153,390 Shares of Flutter Entertainment PLC $FLUT

Capital International Investors boosted its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,256,764 shares of the company’s stock after buying an additional 153,390 shares during the period. Capital International Investors’ holdings in Flutter Entertainment were worth $827,841,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after purchasing an additional 69 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Flutter Entertainment during the second quarter valued at $405,000. Savant Capital LLC purchased a new stake in shares of Flutter Entertainment during the second quarter valued at $909,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Flutter Entertainment by 6.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,853 shares of the company’s stock worth $43,679,000 after buying an additional 9,433 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Flutter Entertainment in the 2nd quarter worth about $848,000.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $107.28 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $18.81 billion, a PE ratio of -59.60, a price-to-earnings-growth ratio of 0.75 and a beta of 2.30. The firm’s 50 day moving average price is $159.01 and its 200-day moving average price is $213.81. Flutter Entertainment PLC has a twelve month low of $99.96 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, February 26th. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the firm posted $2.94 earnings per share. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. Equities research analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Analyst Ratings Changes

FLUT has been the topic of several research analyst reports. Morgan Stanley lowered their target price on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. UBS Group decreased their price objective on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Bank of America lowered their price objective on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Stifel Nicolaus dropped their target price on shares of Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Finally, BTIG Research cut their target price on shares of Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average target price of $234.65.

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.