Flutter Entertainment PLC $FLUT Shares Acquired by Legal & General Group Plc

Legal & General Group Plc boosted its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 929,734 shares of the company’s stock after purchasing an additional 47,367 shares during the quarter. Legal & General Group Plc owned about 0.53% of Flutter Entertainment worth $236,627,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. JFS Wealth Advisors LLC purchased a new stake in shares of Flutter Entertainment in the third quarter valued at about $27,000. JCIC Asset Management Inc. acquired a new stake in shares of Flutter Entertainment during the third quarter worth about $32,000. Atlantic Union Bankshares Corp purchased a new position in shares of Flutter Entertainment during the third quarter worth about $34,000. ORG Partners LLC grew its holdings in shares of Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after buying an additional 43 shares during the last quarter. Finally, First Horizon Corp acquired a new position in Flutter Entertainment in the 3rd quarter valued at about $39,000.

Flutter Entertainment Stock Performance

NYSE FLUT opened at $105.64 on Friday. The stock has a market capitalization of $18.52 billion, a price-to-earnings ratio of -58.69, a PEG ratio of 0.75 and a beta of 2.30. The business’s 50 day moving average is $154.69 and its two-hundred day moving average is $212.34. Flutter Entertainment PLC has a 12-month low of $99.96 and a 12-month high of $313.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.31.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.87 billion. During the same quarter last year, the firm earned $2.94 earnings per share. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. Research analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has authorized a share buyback program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays reduced their price objective on Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Sanford C. Bernstein reissued a “market perform” rating and issued a $170.00 target price on shares of Flutter Entertainment in a report on Friday, February 6th. Stifel Nicolaus cut their price target on Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Craig Hallum downgraded Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a report on Wednesday, January 21st. Finally, BTIG Research lowered their price objective on shares of Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.65.

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.