Capital Research Global Investors Sells 175,665 Shares of Flutter Entertainment PLC $FLUT

Capital Research Global Investors trimmed its position in Flutter Entertainment PLC (NYSE:FLUT) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,406,445 shares of the company’s stock after selling 175,665 shares during the period. Capital Research Global Investors owned approximately 3.64% of Flutter Entertainment worth $1,627,665,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. ORG Partners LLC raised its holdings in shares of Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after purchasing an additional 43 shares during the last quarter. MML Investors Services LLC lifted its position in shares of Flutter Entertainment by 0.6% in the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after buying an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in shares of Flutter Entertainment by 1.2% in the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock valued at $1,030,000 after purchasing an additional 49 shares during the period. Versant Capital Management Inc lifted its holdings in Flutter Entertainment by 5.6% during the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock worth $240,000 after purchasing an additional 50 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in Flutter Entertainment by 5.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock valued at $273,000 after purchasing an additional 58 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FLUT shares. Bank of America decreased their price target on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Flutter Entertainment in a report on Monday, December 29th. Oppenheimer lowered their price objective on shares of Flutter Entertainment from $280.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Finally, Susquehanna reiterated a “positive” rating and set a $228.00 price objective on shares of Flutter Entertainment in a report on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.65.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $109.60 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $19.21 billion, a price-to-earnings ratio of -60.89, a P/E/G ratio of 0.76 and a beta of 2.32. Flutter Entertainment PLC has a 52 week low of $99.96 and a 52 week high of $313.68. The firm’s 50-day simple moving average is $161.21 and its two-hundred day simple moving average is $215.16.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.37). The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.87 billion. Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. Flutter Entertainment’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the company earned $2.94 earnings per share. As a group, equities analysts forecast that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

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.