Bessemer Group Inc. lessened its position in Flutter Entertainment PLC (NYSE:FLUT – Free Report) by 5.6% during the fourth quarter, Holdings Channel reports. The fund owned 375,981 shares of the company’s stock after selling 22,128 shares during the period. Bessemer Group Inc.’s holdings in Flutter Entertainment were worth $80,850,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Argos Wealth Advisors LLC bought a new position in Flutter Entertainment in the fourth quarter valued at $244,000. NewEdge Wealth LLC bought a new position in Flutter Entertainment in the fourth quarter valued at $303,000. Truist Financial Corp increased its stake in Flutter Entertainment by 2.8% in the fourth quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock valued at $560,000 after acquiring an additional 72 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new position in Flutter Entertainment in the fourth quarter valued at $5,376,000. Finally, PFA Pension Forsikringsaktieselskab bought a new position in Flutter Entertainment in the fourth quarter valued at $7,679,000.
Insider Activity
In other news, CEO Jeremy Peter Jackson sold 4,326 shares of Flutter Entertainment stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $108.00, for a total transaction of $467,208.00. Following the completion of the transaction, the chief executive officer directly owned 36,788 shares in the company, valued at approximately $3,973,104. This trade represents a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Mark Taylor bought 1,611 shares of the stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $94.29 per share, with a total value of $151,901.19. Following the completion of the acquisition, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. The trade was a 4.89% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 10,453 shares of company stock valued at $1,045,526 and sold 22,306 shares valued at $2,333,598. Company insiders own 0.09% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Analysis on Flutter Entertainment
Flutter Entertainment Stock Performance
Flutter Entertainment stock opened at $92.44 on Friday. The stock’s 50 day simple moving average is $105.39 and its two-hundred day simple moving average is $160.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of -43.19, a PEG ratio of 1.18 and a beta of 1.58. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68.
Flutter Entertainment (NYSE:FLUT – Get Free Report) last released 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. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business earned $1.59 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. As a group, analysts expect that Flutter Entertainment PLC will post 5.14 earnings per share for the current fiscal year.
Flutter Entertainment declared that its board has initiated a stock buyback plan on Wednesday, March 11th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.
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.
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