Los Angeles Capital Management LLC Boosts Stake in Flutter Entertainment PLC $FLUT

Los Angeles Capital Management LLC lifted its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,492 shares of the company’s stock after acquiring an additional 4,872 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Flutter Entertainment were worth $8,887,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State of Wyoming increased its position in shares of Flutter Entertainment by 20.9% during the fourth quarter. State of Wyoming now owns 6,845 shares of the company’s stock worth $1,472,000 after acquiring an additional 1,185 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Flutter Entertainment by 52.6% during the fourth quarter. CIBC Asset Management Inc now owns 13,096 shares of the company’s stock worth $2,816,000 after acquiring an additional 4,513 shares during the last quarter. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth about $3,352,000. PARUS FINANCE UK Ltd increased its position in shares of Flutter Entertainment by 16.3% during the fourth quarter. PARUS FINANCE UK Ltd now owns 3,850 shares of the company’s stock worth $828,000 after acquiring an additional 540 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Flutter Entertainment during the fourth quarter worth about $694,009,000.

Flutter Entertainment Stock Up 4.7%

NYSE:FLUT opened at $105.20 on Tuesday. The company has a market capitalization of $18.30 billion, a price-to-earnings ratio of -49.16, a price-to-earnings-growth ratio of 1.33 and a beta of 1.40. Flutter Entertainment PLC has a one year low of $91.52 and a one year high of $313.68. The stock has a 50-day simple moving average of $102.43 and a 200 day simple moving average of $145.80. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The business had revenue of $4.30 billion during 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 company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $1.59 earnings per share. Sell-side analysts predict that Flutter Entertainment PLC will post 4.88 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has approved a share buyback plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to purchase 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 stock is undervalued.

Insiders Place Their Bets

In other Flutter Entertainment news, CEO Amy Howe sold 8,895 shares of Flutter Entertainment 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 completion of the transaction, the chief executive officer directly owned 78,889 shares in the company, valued at $8,355,133.99. The trade was a 10.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John A. Bryant bought 1,950 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was bought at an average price of $102.86 per share, with a total value of $200,577.00. Following the completion of the purchase, the director owned 9,235 shares of the company’s stock, valued at $949,912.10. This trade represents a 26.77% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 10,453 shares of company stock valued at $1,045,526 and sold 23,828 shares valued at $2,477,625. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $167.00 target price on shares of Flutter Entertainment in a research report on Friday, May 8th. Susquehanna dropped their target price on Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating on the stock in a research report on Tuesday, March 31st. Stifel Nicolaus dropped their target price on Flutter Entertainment from $216.00 to $189.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Truist Financial dropped their target price on 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, BTIG Research dropped their target price on Flutter Entertainment from $137.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Two 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.