4,955 Shares in Flutter Entertainment PLC $FLUT Bought by Rockingstone Advisors LLC

Rockingstone Advisors LLC bought a new position in Flutter Entertainment PLC (NYSE:FLUT) in the fourth quarter, HoldingsChannel.com reports. The firm bought 4,955 shares of the company’s stock, valued at approximately $1,066,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC acquired a new position in Flutter Entertainment in the 3rd quarter worth $27,000. MassMutual Private Wealth & Trust FSB boosted its stake in Flutter Entertainment by 219.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares during the period. JCIC Asset Management Inc. acquired a new position in Flutter Entertainment in the 3rd quarter worth $32,000. Atlantic Union Bankshares Corp acquired a new position in Flutter Entertainment in the 3rd quarter worth $34,000. Finally, ORG Partners LLC boosted its stake in Flutter Entertainment by 43.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 43 shares during the period.

Flutter Entertainment Trading Down 2.6%

Shares of NYSE:FLUT opened at $106.68 on Thursday. The company’s 50-day moving average price is $110.75 and its two-hundred day moving average price is $175.46. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a one year low of $98.88 and a one year high of $313.68. The stock has a market capitalization of $18.61 billion, a PE ratio of -59.27, a price-to-earnings-growth ratio of 0.79 and a beta of 1.93.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Friday, February 27th. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.87 billion. During the same period last year, the firm earned $2.94 earnings per share. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, equities analysts forecast that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback plan on Wednesday, March 11th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FLUT has been the subject of a number of research analyst reports. Benchmark reduced their target price on shares of Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, February 27th. UBS Group cut their price target on shares of Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Citizens Jmp cut their price target on shares of Flutter Entertainment from $195.00 to $188.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 8th. Canaccord Genuity Group cut their price target on shares of Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Finally, Susquehanna cut their price target on shares of Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating on the stock in a research report on Tuesday, March 31st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.40.

Insider Activity

In other news, CFO Robert Coldrake sold 4,613 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total value of $491,053.85. Following the sale, the chief financial officer directly owned 10,006 shares of the company’s stock, valued at approximately $1,065,138.70. This represents a 31.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 36,788 shares in the company, valued at approximately $3,973,104. The trade was a 10.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 17,834 shares of company stock valued at $1,900,331. 0.09% of the stock is owned by company insiders.

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.