North Dakota State Investment Board Purchases Shares of 6,169 Flutter Entertainment PLC $FLUT

North Dakota State Investment Board purchased a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,169 shares of the company’s stock, valued at approximately $1,327,000.

A number of other large investors have also added to or reduced their stakes in FLUT. MML Investors Services LLC increased its holdings in shares of Flutter Entertainment by 0.6% in the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after buying an additional 45 shares during the period. OneDigital Investment Advisors LLC boosted its position in Flutter Entertainment by 1.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock valued at $1,030,000 after acquiring an additional 49 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in Flutter Entertainment by 5.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock valued at $273,000 after acquiring an additional 58 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after acquiring an additional 69 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in Flutter Entertainment by 3.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,305 shares of the company’s stock valued at $564,000 after acquiring an additional 71 shares in the last quarter.

Flutter Entertainment Stock Up 0.3%

FLUT opened at $97.59 on Wednesday. The firm has a 50-day simple moving average of $104.75 and a two-hundred day simple moving average of $157.55. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68. The company has a market capitalization of $16.98 billion, a PE ratio of -45.60, a price-to-earnings-growth ratio of 1.29 and a beta of 1.58. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.13. The firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.59 EPS. Analysts forecast that Flutter Entertainment PLC will post 4.88 earnings per share for the current fiscal year.

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

Insider Activity

In other news, CEO Jeremy Peter Jackson sold 3,084 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $98.13, for a total transaction of $302,632.92. Following the sale, the chief executive officer directly owned 74,326 shares in the company, valued at approximately $7,293,610.38. This represents a 3.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Carolan Lennon bought 520 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $92.30 per share, for a total transaction of $47,996.00. Following the completion of the transaction, the director directly owned 2,127 shares in the company, valued at approximately $196,322.10. This represents a 32.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 10,453 shares of company stock worth $1,045,526 and sold 22,306 shares worth $2,333,598. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stifel Nicolaus dropped their price target on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Benchmark dropped their price target on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. BTIG Research decreased their price objective on shares of Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Barclays decreased their target price on shares of Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Canaccord Genuity Group decreased their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.26.

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.