6,169 Shares in Flutter Entertainment PLC $FLUT Purchased by North Dakota State Investment Board

North Dakota State Investment Board acquired a new position in Flutter Entertainment PLC (NYSE:FLUT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,169 shares of the company’s stock, valued at approximately $1,327,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WGI DM LLC raised its position in Flutter Entertainment by 4.9% in the 4th quarter. WGI DM LLC now owns 499,524 shares of the company’s stock worth $107,418,000 after purchasing an additional 23,263 shares during the period. iA Global Asset Management Inc. purchased a new stake in Flutter Entertainment in the 4th quarter worth about $252,000. Applied Finance Capital Management LLC purchased a new stake in Flutter Entertainment in the 4th quarter worth about $923,000. Argos Wealth Advisors LLC purchased a new position in shares of Flutter Entertainment during the fourth quarter worth approximately $244,000. Finally, NewEdge Wealth LLC purchased a new position in shares of Flutter Entertainment during the fourth quarter worth approximately $303,000.

Flutter Entertainment Price Performance

NYSE FLUT opened at $97.59 on Wednesday. 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 firm’s 50 day moving average price is $104.75 and its 200-day moving average price is $157.55. Flutter Entertainment PLC has a 52-week low of $91.52 and a 52-week high of $313.68. The company has a market cap of $16.98 billion, a PE ratio of -45.60, a P/E/G ratio of 1.29 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the firm earned $1.59 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Sell-side analysts forecast that Flutter Entertainment PLC will post 4.88 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has authorized 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 repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CFO Robert Coldrake sold 4,613 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $106.45, for a total transaction of $491,053.85. Following the transaction, the chief financial officer directly owned 10,006 shares in the company, valued at approximately $1,065,138.70. This trade represents a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel Mark Taylor acquired 1,611 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the completion of the purchase, the chief executive officer owned 34,584 shares of the company’s stock, valued at approximately $3,260,925.36. This represents a 4.89% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 10,453 shares of company stock valued at $1,045,526 and sold 22,306 shares valued at $2,333,598. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on FLUT shares. Kepler Capital Markets lowered shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 16th. Susquehanna reduced their target price 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. Bank of America reduced their target price on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Truist Financial reduced their target price on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Citigroup lowered shares of Flutter Entertainment from a “buy” rating to a “sell” rating in a research report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.26.

Flutter Entertainment Company 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.