Robeco Institutional Asset Management B.V. Has $1.18 Million Stock Holdings in Flutter Entertainment PLC $FLUT

Robeco Institutional Asset Management B.V. decreased its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 74.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,491 shares of the company’s stock after selling 16,020 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Flutter Entertainment were worth $1,181,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Makena Capital Management LLC acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at $11,517,000. TimesSquare Capital Management LLC raised its stake in shares of Flutter Entertainment by 294.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 378,878 shares of the company’s stock valued at $96,235,000 after buying an additional 282,736 shares in the last quarter. AGF Management Ltd. acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at $9,519,000. Mutual of America Capital Management LLC acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at $2,173,000. Finally, Federated Hermes Inc. acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at $169,777,000.

Flutter Entertainment Trading Up 0.8%

Shares of FLUT stock opened at $109.98 on Friday. Flutter Entertainment PLC has a 12-month low of $98.88 and a 12-month high of $313.68. The company has a market capitalization of $19.18 billion, a P/E ratio of -61.10, a P/E/G ratio of 0.79 and a beta of 1.93. The firm has a 50-day moving average price of $113.23 and a 200 day moving average price of $179.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Friday, February 27th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The company’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.94 EPS. Research analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has authorized a stock repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Citizens Jmp dropped their price objective on shares of Flutter Entertainment from $195.00 to $188.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 8th. UBS Group dropped their price objective on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Canaccord Genuity Group dropped their price objective on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Craig Hallum cut shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a research note on Wednesday, January 21st. Finally, Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $214.40.

Insider Buying and Selling at Flutter Entertainment

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

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.