Atria Investments Inc Purchases 1,872 Shares of Flutter Entertainment PLC $FLUT

Atria Investments Inc grew its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 158.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,051 shares of the company’s stock after acquiring an additional 1,872 shares during the period. Atria Investments Inc’s holdings in Flutter Entertainment were worth $872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SVB Wealth LLC purchased a new position in Flutter Entertainment in the first quarter worth about $27,000. ORG Partners LLC raised its holdings in Flutter Entertainment by 300.0% in the second quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Barrett & Company Inc. acquired a new stake in shares of Flutter Entertainment in the 2nd quarter worth $29,000. Signaturefd LLC raised its holdings in shares of Flutter Entertainment by 98.5% in the second quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after buying an additional 64 shares during the last quarter. Finally, CWM LLC grew its stake in Flutter Entertainment by 59.6% during the 1st quarter. CWM LLC now owns 217 shares of the company’s stock valued at $48,000 after purchasing an additional 81 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Amy Howe sold 4,097 shares of the stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total value of $1,253,313.27. Following the transaction, the chief executive officer directly owned 69,850 shares of the company’s stock, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Mark Taylor sold 15,283 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $284.80, for a total transaction of $4,352,598.40. Following the completion of the sale, the insider directly owned 16,589 shares of the company’s stock, valued at $4,724,547.20. The trade was a 47.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 23,396 shares of company stock worth $6,759,745. 0.09% of the stock is owned by company insiders.

Flutter Entertainment Stock Up 3.1%

Shares of Flutter Entertainment stock opened at $223.27 on Friday. The firm has a fifty day moving average of $261.23 and a two-hundred day moving average of $268.68. Flutter Entertainment PLC has a one year low of $196.88 and a one year high of $313.68. The company has a market cap of $39.32 billion, a P/E ratio of 109.98 and a beta of 1.85. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment declared that its board has approved a share repurchase program on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 0.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently commented on the company. BTIG Research set a $321.00 target price on Flutter Entertainment in a report on Thursday, October 30th. Macquarie lifted their price target on shares of Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Stifel Nicolaus dropped their price objective on Flutter Entertainment from $356.00 to $339.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Peel Hunt lowered shares of Flutter Entertainment from an “add” rating to a “hold” rating in a research note on Friday, August 8th. Finally, Barclays raised their target price on shares of Flutter Entertainment from $350.00 to $352.00 and gave the company an “overweight” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $330.47.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.