Banco BTG Pactual S.A. Takes $10.75 Million Position in Flutter Entertainment PLC $FLUT

Banco BTG Pactual S.A. bought a new stake in Flutter Entertainment PLC (NYSE:FLUT) during the fourth quarter, Holdings Channel reports. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $10,752,000. Flutter Entertainment accounts for approximately 1.8% of Banco BTG Pactual S.A.’s investment portfolio, making the stock its 14th largest holding.

Other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. JFS Wealth Advisors LLC bought a new position in shares of Flutter Entertainment in the third quarter valued at approximately $27,000. Zions Bancorporation National Association UT lifted its holdings in shares of Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock valued at $27,000 after purchasing an additional 118 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Flutter Entertainment by 93.8% in the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after purchasing an additional 90 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Benchmark dropped their price target on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. BNP Paribas Exane assumed coverage on Flutter Entertainment in a report on Thursday, May 14th. They set an “underperform” rating and a $80.00 price target on the stock. Moffett Nathanson lowered Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 price target on the stock. in a report on Friday, April 24th. Oppenheimer dropped their price target on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Finally, Canaccord Genuity Group dropped their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $189.26.

Insiders Place Their Bets

In other Flutter Entertainment news, insider Don H. Liu sold 1,259 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total value of $117,552.83. Following the completion of the sale, the insider directly owned 21,006 shares of the company’s stock, valued at $1,961,330.22. This trade represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Mark Taylor bought 1,611 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $94.29 per share, with a total value of $151,901.19. Following the completion of the transaction, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. The trade was a 4.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. Corporate insiders own 0.13% of the company’s stock.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $110.91 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day simple moving average of $103.08 and a two-hundred day simple moving average of $144.08. Flutter Entertainment PLC has a 1 year low of $91.52 and a 1 year high of $313.68. The company has a market capitalization of $19.29 billion, a P/E ratio of -51.83, a P/E/G ratio of 1.46 and a beta of 1.40.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the business posted $1.59 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, 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 authorized a stock buyback plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

About Flutter Entertainment

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.