Y Intercept Hong Kong Ltd Raises Position in Flutter Entertainment PLC $FLUT

Y Intercept Hong Kong Ltd boosted its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 121.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 62,572 shares of the company’s stock after purchasing an additional 34,367 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Flutter Entertainment were worth $6,379,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FLUT. MML Investors Services LLC lifted its stake in shares of Flutter Entertainment by 0.6% in the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after acquiring an additional 45 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after acquiring an additional 69 shares during the last quarter. Truist Financial Corp grew its position in Flutter Entertainment by 2.8% during the 4th quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock worth $560,000 after acquiring an additional 72 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Flutter Entertainment by 83.3% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after purchasing an additional 75 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the period.

Insider Buying and Selling

In other news, Director John A. Bryant purchased 1,950 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average cost of $102.86 per share, for a total transaction of $200,577.00. Following the completion of the transaction, the director directly owned 9,235 shares of the company’s stock, valued at $949,912.10. This trade represents a 26.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO James Philip Bishop purchased 1,000 shares of Flutter Entertainment stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $99.75 per share, for a total transaction of $99,750.00. Following the completion of the purchase, the chief operating officer owned 17,605 shares of the company’s stock, valued at $1,756,098.75. This trade represents a 6.02% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 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 owned by company insiders.

Analysts Set New Price Targets

FLUT has been the subject of a number of analyst reports. BTIG Research dropped their price objective on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Citigroup reaffirmed a “sell” rating on shares of Flutter Entertainment in a research note on Monday, June 29th. Moffett Nathanson lowered shares of Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target for the company. in a report on Friday, April 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Finally, Citizens Jmp cut their price target on shares of Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating on the stock in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.42.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $106.04 on Friday. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68. The stock has a market capitalization of $18.45 billion, a P/E ratio of -49.55, a P/E/G ratio of 1.37 and a beta of 1.31. The company’s 50-day moving average is $101.93 and its 200 day moving average is $132.74. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90.

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

Flutter Entertainment declared that its Board of Directors has initiated a share repurchase plan on Wednesday, March 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.