Corient Private Wealth LLC decreased its position in shares of Flutter Entertainment PLC (NYSE:FLUT – Free Report) by 64.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,464 shares of the company’s stock after selling 6,165 shares during the quarter. Corient Private Wealth LLC’s holdings in Flutter Entertainment were worth $745,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MML Investors Services LLC grew its stake in Flutter Entertainment by 0.6% during the 2nd 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 valued at $290,000 after buying an additional 69 shares during the last quarter. Truist Financial Corp lifted 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 buying an additional 72 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after acquiring an additional 75 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Flutter Entertainment by 219.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares during the period.
Insider Activity at Flutter Entertainment
In other news, Director John A. Bryant bought 1,950 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were acquired at an average cost of $102.86 per share, with a total value of $200,577.00. Following the transaction, the director owned 9,235 shares of the company’s stock, valued at $949,912.10. This represents a 26.77% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO James Philip Bishop acquired 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $99.75 per share, for a total transaction of $99,750.00. Following the completion of the acquisition, the chief operating officer owned 17,605 shares in the company, valued at approximately $1,756,098.75. This trade represents a 6.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. Company insiders own 0.13% of the company’s stock.
Flutter Entertainment Trading Up 0.0%
Flutter Entertainment (NYSE:FLUT – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.13. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.Flutter Entertainment’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 EPS. Research analysts forecast that Flutter Entertainment PLC will post 5 earnings per share for the current fiscal year.
Flutter Entertainment announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Kepler Capital Markets cut shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. BNP Paribas Exane started coverage on Flutter Entertainment in a research note on Thursday, May 14th. They set an “underperform” rating and a $80.00 price objective for the company. Wedbush began coverage on Flutter Entertainment in a research report on Monday, June 15th. They set an “outperform” rating and a $138.00 price objective for the company. Finally, Citigroup reiterated a “sell” rating on shares of Flutter Entertainment in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.42.
Get Our Latest Stock Report on Flutter Entertainment
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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