Catalyst Funds Management Pty Ltd Invests $1.32 Million in Flutter Entertainment PLC $FLUT

Catalyst Funds Management Pty Ltd bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 6,120 shares of the company’s stock, valued at approximately $1,316,000.

Several other institutional investors also recently modified their holdings of FLUT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock worth $290,000 after buying an additional 69 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Flutter Entertainment during the 2nd quarter worth about $405,000. Creative Planning acquired a new position in shares of Flutter Entertainment during the 2nd quarter worth about $296,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Flutter Entertainment by 246.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 187 shares of the company’s stock valued at $53,000 after purchasing an additional 133 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Flutter Entertainment by 74.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 248 shares of the company’s stock valued at $71,000 after purchasing an additional 106 shares during the period.

Insider Activity

In related news, CEO Daniel Mark Taylor acquired 1,611 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the purchase, the chief executive officer directly owned 34,584 shares in the company, valued at approximately $3,260,925.36. This trade represents a 4.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amy Howe sold 8,895 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $105.91, for a total value of $942,069.45. Following the sale, the chief executive officer owned 78,889 shares in the company, valued at approximately $8,355,133.99. This represents a 10.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have acquired 10,453 shares of company stock worth $1,045,526 and have sold 22,306 shares worth $2,333,598. Insiders own 0.13% of the company’s stock.

Flutter Entertainment Trading Up 0.4%

NYSE:FLUT opened at $97.48 on Friday. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The business has a 50 day moving average price of $104.05 and a two-hundred day moving average price of $155.24. The company has a market cap of $16.96 billion, a P/E ratio of -45.55, a price-to-earnings-growth ratio of 1.29 and a beta of 1.58.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. 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 4.88 EPS for the current fiscal year.

Flutter Entertainment announced that its board has authorized a share repurchase plan on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group decreased their price objective on Flutter Entertainment from $300.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Benchmark decreased their price objective on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Citizens Jmp decreased their price objective on Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. Sanford C. Bernstein decreased their price objective on Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a research report on Thursday, May 7th. Finally, Barclays decreased their price objective on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment presently has an average rating of “Moderate Buy” and an average price target of $189.26.

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.