Flutter Entertainment PLC $FLUT Shares Sold by Maytus Capital Management LLC

Maytus Capital Management LLC lowered its stake in Flutter Entertainment PLC (NYSE:FLUT) by 38.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,000 shares of the company’s stock after selling 10,000 shares during the quarter. Maytus Capital Management LLC’s holdings in Flutter Entertainment were worth $3,441,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FLUT. MassMutual Private Wealth & Trust FSB lifted its holdings in Flutter Entertainment by 219.4% in the fourth 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. JFS Wealth Advisors LLC acquired a new stake in Flutter Entertainment in the third quarter worth about $27,000. Zions Bancorporation National Association UT lifted its holdings in Flutter Entertainment by 1,685.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the period. IFP Advisors Inc lifted its holdings in Flutter Entertainment by 93.8% in the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock worth $40,000 after purchasing an additional 90 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in Flutter Entertainment by 83.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock worth $42,000 after purchasing an additional 75 shares during the period.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $108.92 on Wednesday. The firm has a 50-day moving average of $103.35 and a two-hundred day moving average of $142.26. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of -50.90, a PEG ratio of 1.41 and a beta of 1.40. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.13. The firm had revenue of $4.30 billion for 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%.The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.59 EPS. As a group, analysts expect that Flutter Entertainment PLC will post 5 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has initiated 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 buy up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on FLUT. Wells Fargo & Company upped their price objective on shares of Flutter Entertainment from $161.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of Flutter Entertainment in a report on Wednesday, May 27th. Needham & Company LLC cut their price target on shares of Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Sanford C. Bernstein cut their price target on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $167.00 price target on shares of Flutter Entertainment in a report on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.42.

Insider Activity

In related news, COO James Philip Bishop acquired 1,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $99.75 per share, for a total transaction of $99,750.00. Following the acquisition, the chief operating officer owned 17,605 shares in the company, valued at approximately $1,756,098.75. This represents a 6.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy Peter Jackson sold 3,084 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $98.13, for a total value of $302,632.92. Following the sale, the chief executive officer owned 74,326 shares in the company, valued at approximately $7,293,610.38. The trade was a 3.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have acquired 10,453 shares of company stock worth $1,045,526 and have sold 5,994 shares worth $577,293. 0.13% of the stock is currently owned by corporate insiders.

Flutter Entertainment 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.