National Bank of Canada FI Reduces Holdings in Flutter Entertainment PLC (NYSE:FLUT)

National Bank of Canada FI lowered its position in Flutter Entertainment PLC (NYSE:FLUT) by 13.6% during the 1st quarter, HoldingsChannel reports. The fund owned 1,435 shares of the company’s stock after selling 226 shares during the period. National Bank of Canada FI’s holdings in Flutter Entertainment were worth $315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FLUT. PARUS FINANCE UK Ltd grew its holdings in Flutter Entertainment by 1.5% during the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock valued at $742,000 after purchasing an additional 50 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Flutter Entertainment by 3.0% during the first quarter. Sequoia Financial Advisors LLC now owns 1,836 shares of the company’s stock valued at $407,000 after buying an additional 53 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Flutter Entertainment by 43.8% in the first quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after buying an additional 56 shares during the period. Parallel Advisors LLC lifted its stake in shares of Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after acquiring an additional 60 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Flutter Entertainment by 1.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company’s stock worth $1,060,000 after acquiring an additional 67 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FLUT shares. Stifel Nicolaus upped their price objective on Flutter Entertainment from $353.00 to $356.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Citigroup reiterated a “buy” rating on shares of Flutter Entertainment in a report on Thursday. Benchmark reaffirmed a “buy” rating and set a $365.00 target price (up from $300.00) on shares of Flutter Entertainment in a research report on Friday, August 8th. Bank of America lifted their price target on shares of Flutter Entertainment from $295.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Finally, UBS Group reiterated a “buy” rating and issued a $360.00 price target (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $328.62.

Insider Activity

In related news, insider Daniel Mark Taylor sold 15,283 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the transaction, the insider directly owned 16,589 shares in the company, valued at $4,724,547.20. The trade was a 47.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christine M. Mccarthy sold 264 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $244.12, for a total value of $64,447.68. Following the transaction, the director directly owned 559 shares in the company, valued at $136,463.08. This represents a 32.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,642 shares of company stock worth $5,490,473. Company insiders own 0.09% of the company’s stock.

Flutter Entertainment Stock Performance

FLUT stock opened at $293.17 on Friday. The firm has a 50-day simple moving average of $287.56 and a two-hundred day simple moving average of $261.06. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The firm has a market cap of $51.63 billion, a price-to-earnings ratio of 144.42, a PEG ratio of 1.22 and a beta of 2.31.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The business’s revenue was up 16.0% compared to the same quarter last year. On average, equities analysts forecast that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment announced that its board has approved a share repurchase program on Friday, August 8th that authorizes the company to repurchase $245.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 0.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.