Los Angeles Capital Management LLC Decreases Holdings in Flutter Entertainment PLC $FLUT

Los Angeles Capital Management LLC trimmed its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 29.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,314 shares of the company’s stock after selling 14,185 shares during the period. Los Angeles Capital Management LLC’s holdings in Flutter Entertainment were worth $9,520,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in FLUT. SVB Wealth LLC bought a new stake in Flutter Entertainment in the first quarter worth about $27,000. ORG Partners LLC increased its stake in shares of Flutter Entertainment by 300.0% during the 2nd quarter. ORG Partners LLC now owns 100 shares of the company’s stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Barrett & Company Inc. purchased a new stake in shares of Flutter Entertainment during the 2nd quarter worth approximately $29,000. Signaturefd LLC raised its holdings in shares of Flutter Entertainment by 98.5% in the 2nd quarter. Signaturefd LLC now owns 129 shares of the company’s stock worth $37,000 after purchasing an additional 64 shares during the period. Finally, CWM LLC raised its holdings in shares of Flutter Entertainment by 59.6% in the 1st quarter. CWM LLC now owns 217 shares of the company’s stock worth $48,000 after purchasing an additional 81 shares during the period.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $223.27 on Monday. The business’s fifty day moving average is $261.23 and its 200 day moving average is $269.23. The firm has a market cap of $39.32 billion, a price-to-earnings ratio of 109.98 and a beta of 1.84. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.95 and a current ratio of 0.95. Flutter Entertainment PLC has a 52-week low of $196.88 and a 52-week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.06 billion. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Research analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback program on Friday, August 8th that allows the company to repurchase $245.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 0.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Flutter Entertainment

In other news, CEO Amy Howe sold 4,097 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $305.91, for a total value of $1,253,313.27. Following the completion of the transaction, the chief executive officer directly owned 69,850 shares in the company, valued at approximately $21,367,813.50. This trade represents a 5.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $292.42, for a total transaction of $617,591.04. Following the sale, the chief executive officer directly owned 31,944 shares in the company, valued at $9,341,064.48. This trade represents a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

FLUT has been the subject of several research reports. Peel Hunt lowered Flutter Entertainment from an “add” rating to a “hold” rating in a report on Friday, August 8th. Macquarie upped their price target on Flutter Entertainment from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Flutter Entertainment in a report on Wednesday, October 8th. Needham & Company LLC boosted their price objective on Flutter Entertainment from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, Sanford C. Bernstein cut their target price on shares of Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating for the company in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $330.47.

About Flutter Entertainment

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.