15,589 Shares in Flutter Entertainment PLC $FLUT Bought by BW Gestao de Investimentos Ltda.

BW Gestao de Investimentos Ltda. bought a new position in Flutter Entertainment PLC (NYSE:FLUT) in the fourth quarter, Holdings Channel.com reports. The firm bought 15,589 shares of the company’s stock, valued at approximately $3,352,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PARUS FINANCE UK Ltd raised its stake in Flutter Entertainment by 16.3% in the 4th quarter. PARUS FINANCE UK Ltd now owns 3,850 shares of the company’s stock worth $828,000 after acquiring an additional 540 shares during the last quarter. Norges Bank purchased a new position in Flutter Entertainment in the 4th quarter worth $694,009,000. National Pension Service raised its stake in Flutter Entertainment by 8.2% in the 4th quarter. National Pension Service now owns 243,983 shares of the company’s stock worth $52,466,000 after acquiring an additional 18,530 shares during the last quarter. Allstate Corp raised its stake in shares of Flutter Entertainment by 94.8% during the 4th quarter. Allstate Corp now owns 13,203 shares of the company’s stock valued at $2,839,000 after buying an additional 6,425 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Flutter Entertainment by 4.0% during the 4th quarter. Legal & General Group Plc now owns 966,839 shares of the company’s stock valued at $207,950,000 after buying an additional 37,105 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FLUT. Benchmark reduced their price objective on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $167.00 price objective on shares of Flutter Entertainment in a research note on Friday, May 8th. Kepler Capital Markets lowered Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Citigroup lowered Flutter Entertainment from a “buy” rating to a “sell” rating in a research note on Thursday, April 16th. Finally, Oppenheimer reduced their price objective on Flutter Entertainment from $210.00 to $160.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.26.

Insider Buying and Selling at Flutter Entertainment

In other news, CEO Jeremy Peter Jackson sold 4,326 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total transaction of $467,208.00. Following the transaction, the chief executive officer directly owned 36,788 shares in the company, valued at $3,973,104. The trade was a 10.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Bryant bought 1,950 shares of the stock in a transaction dated Friday, May 8th. The shares were bought at an average price of $102.86 per share, for a total transaction of $200,577.00. Following the completion of the acquisition, the director owned 9,235 shares in the company, valued at approximately $949,912.10. The trade was a 26.77% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 10,453 shares of company stock worth $1,045,526 and sold 23,828 shares worth $2,477,625. 0.13% of the stock is currently owned by company insiders.

Flutter Entertainment Trading Down 2.1%

Shares of Flutter Entertainment stock opened at $102.16 on Wednesday. The stock has a market cap of $17.77 billion, a P/E ratio of -47.74, a P/E/G ratio of 1.38 and a beta of 1.40. The stock’s 50 day simple moving average is $102.82 and its 200-day simple moving average is $149.37. Flutter Entertainment PLC has a 1-year low of $91.52 and a 1-year high of $313.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90.

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

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.