Oak Thistle LLC Cuts Stock Holdings in Flutter Entertainment PLC $FLUT

Oak Thistle LLC reduced its position in Flutter Entertainment PLC (NYSE:FLUT) by 65.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,971 shares of the company’s stock after selling 7,577 shares during the period. Oak Thistle LLC’s holdings in Flutter Entertainment were worth $854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC purchased a new position in Flutter Entertainment in the third quarter valued at $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Flutter Entertainment by 219.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. JCIC Asset Management Inc. purchased a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $32,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Flutter Entertainment during the 3rd quarter valued at about $34,000. Finally, ORG Partners LLC grew its position in shares of Flutter Entertainment by 43.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 43 shares during the period.

Flutter Entertainment Stock Performance

FLUT opened at $102.55 on Friday. The firm has a market capitalization of $17.88 billion, a PE ratio of -56.97, a PEG ratio of 0.73 and a beta of 1.93. Flutter Entertainment PLC has a twelve month low of $98.88 and a twelve month high of $313.68. The firm’s 50-day moving average price is $117.79 and its 200 day moving average price is $185.01. 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 released its quarterly earnings data on Friday, February 27th. The company reported $1.74 EPS 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 $4.76 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the company posted $2.94 EPS. The firm’s revenue was up 24.9% on a year-over-year basis. As a group, sell-side analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

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

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CFO Robert Coldrake sold 4,613 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total transaction of $491,053.85. Following the transaction, the chief financial officer owned 10,006 shares of the company’s stock, valued at approximately $1,065,138.70. The trade was a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Amy Howe sold 8,895 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were 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 owned 78,889 shares of the company’s stock, valued at approximately $8,355,133.99. The trade was a 10.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 17,834 shares of company stock valued at $1,900,331. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FLUT shares. Oppenheimer reduced their price target on Flutter Entertainment from $280.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Benchmark dropped their price objective on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, February 27th. 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 research report on Wednesday, January 21st. Barclays reduced their target price 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. Finally, Truist Financial dropped their price target on shares of Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average target price of $219.40.

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.