Charles Lim Capital Ltd Makes New $2.81 Million Investment in Flutter Entertainment PLC $FLUT

Charles Lim Capital Ltd acquired a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT) in the second quarter, Holdings Channel.com reports. The firm acquired 27,500 shares of the company’s stock, valued at approximately $2,810,000. Flutter Entertainment makes up about 0.9% of Charles Lim Capital Ltd’s portfolio, making the stock its 6th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cibc World Markets Corp purchased a new stake in shares of Flutter Entertainment in the fourth quarter worth about $1,678,841,000. Hsbc Holdings PLC raised its position in Flutter Entertainment by 33,988.7% during the first quarter. Hsbc Holdings PLC now owns 5,605,543 shares of the company’s stock valued at $575,185,000 after acquiring an additional 5,589,099 shares in the last quarter. Capital International Investors lifted its holdings in Flutter Entertainment by 146.8% in the fourth quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after acquiring an additional 4,782,302 shares during the period. Norges Bank purchased a new stake in Flutter Entertainment in the 4th quarter worth approximately $694,009,000. Finally, Amundi grew its stake in shares of Flutter Entertainment by 463.7% during the 1st quarter. Amundi now owns 2,059,906 shares of the company’s stock worth $210,007,000 after purchasing an additional 1,694,474 shares during the period.

Insider Activity

In related news, CEO Jeremy Peter Jackson sold 2,112 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $93.32, for a total value of $197,091.84. Following the transaction, the chief executive officer directly owned 72,214 shares of the company’s stock, valued at approximately $6,739,010.48. This trade represents a 2.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Carolan Lennon sold 439 shares of Flutter Entertainment stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $94.63, for a total value of $41,542.57. Following the completion of the sale, the director owned 1,688 shares in the company, valued at approximately $159,735.44. The trade was a 20.64% decrease in their ownership of the stock. 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 90 days, insiders have sold 3,634 shares of company stock valued at $341,119. Insiders own 0.13% of the company’s stock.

Flutter Entertainment Trading Up 0.0%

Shares of NYSE:FLUT opened at $102.66 on Monday. Flutter Entertainment PLC has a 1 year low of $89.71 and a 1 year high of $309.41. The firm has a market capitalization of $17.82 billion, a price-to-earnings ratio of -23.87, a price-to-earnings-growth ratio of 2.60 and a beta of 1.28. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50 day moving average price is $102.97 and its 200-day moving average price is $107.74.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.05). The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a positive return on equity of 7.27% and a negative net margin of 4.39%.Flutter Entertainment’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.95 EPS. On average, equities research analysts forecast that Flutter Entertainment PLC will post 3.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Flutter Entertainment in a research note on Wednesday, May 27th. Stifel Nicolaus dropped their price target on shares of Flutter Entertainment from $161.00 to $133.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Wall Street Zen cut shares of Flutter Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, July 8th. Finally, Truist Financial lowered their target price on shares of Flutter Entertainment from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.12.

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.