Flutter Entertainment PLC $FLUT Stock Holdings Raised by Wgi Dm LLC

Wgi Dm LLC increased its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 58.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 476,261 shares of the company’s stock after buying an additional 175,168 shares during the period. Flutter Entertainment accounts for approximately 0.0% of Wgi Dm LLC’s portfolio, making the stock its 5th largest holding. Wgi Dm LLC owned approximately 0.27% of Flutter Entertainment worth $120,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FLUT. Makena Capital Management LLC purchased a new stake in Flutter Entertainment during the 3rd quarter valued at $11,517,000. TimesSquare Capital Management LLC increased its position in Flutter Entertainment by 294.1% during the third quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after acquiring an additional 282,736 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Flutter Entertainment in the third quarter valued at $9,519,000. Mutual of America Capital Management LLC bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth about $2,173,000. Finally, Federated Hermes Inc. bought a new stake in shares of Flutter Entertainment in the 3rd quarter worth about $169,777,000.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 8,895 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total value of $942,069.45. Following the completion of the sale, the chief executive officer directly owned 78,889 shares in the company, valued at approximately $8,355,133.99. This represents a 10.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total value of $467,208.00. Following the transaction, the chief executive officer directly owned 36,788 shares in the company, valued at $3,973,104. The trade was a 10.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,834 shares of company stock worth $1,900,331 in the last ninety days. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on FLUT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flutter Entertainment in a report on Monday, December 29th. Texas Capital upgraded Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, January 8th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $170.00 target price on shares of Flutter Entertainment in a research note on Friday, February 6th. Truist Financial reduced their price target on Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $234.65.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $106.61 on Thursday. The stock has a market cap of $18.69 billion, a price-to-earnings ratio of -59.23, a price-to-earnings-growth ratio of 0.74 and a beta of 2.30. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a 1 year low of $99.96 and a 1 year high of $313.68. The firm has a 50-day moving average of $145.93 and a two-hundred day moving average of $206.20.

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

Flutter Entertainment announced that its board has authorized a share buyback program on Wednesday, March 11th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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.