Flutter Entertainment PLC $FLUT Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Flutter Entertainment PLC (NYSE:FLUT) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,492 shares of the company’s stock after acquiring an additional 4,872 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Flutter Entertainment were worth $8,887,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Flutter Entertainment by 5.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after acquiring an additional 69 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Flutter Entertainment during the second quarter worth $405,000. Creative Planning acquired a new stake in shares of Flutter Entertainment during the second quarter worth $296,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Flutter Entertainment by 246.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock worth $53,000 after purchasing an additional 133 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Flutter Entertainment by 74.6% during the second quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock worth $71,000 after purchasing an additional 106 shares during the last quarter.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock opened at $105.20 on Tuesday. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68. The stock has a market capitalization of $18.30 billion, a P/E ratio of -49.16, a PEG ratio of 1.33 and a beta of 1.40. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The business’s fifty day moving average price is $102.43 and its 200 day moving average price is $145.80.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating 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 firm had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the firm earned $1.59 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, research analysts anticipate that Flutter Entertainment PLC will post 4.88 earnings per share for the current year.

Flutter Entertainment declared that its board has approved a stock repurchase plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Flutter Entertainment news, CFO Robert Coldrake sold 4,613 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total value of $491,053.85. Following the transaction, the chief financial officer directly owned 10,006 shares of the company’s stock, valued at $1,065,138.70. This trade represents a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total value of $467,208.00. Following the completion of the transaction, the chief executive officer directly owned 36,788 shares in the company, valued at $3,973,104. This trade represents a 10.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 23,828 shares valued at $2,477,625. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FLUT. Sanford C. Bernstein decreased their price objective on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating on the stock in a report on Thursday, May 7th. UBS Group decreased their price objective on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Wells Fargo & Company decreased their price objective on Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Stifel Nicolaus decreased their price objective on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Finally, Susquehanna decreased their price objective on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating on the stock in a report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.26.

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.