BNP Paribas Financial Markets Has $606.25 Million Stock Holdings in Flutter Entertainment PLC $FLUT

BNP Paribas Financial Markets lifted its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,386,821 shares of the company’s stock after purchasing an additional 217,889 shares during the quarter. Flutter Entertainment makes up about 0.3% of BNP Paribas Financial Markets’ holdings, making the stock its 21st biggest position. BNP Paribas Financial Markets owned approximately 1.36% of Flutter Entertainment worth $606,253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Flutter Entertainment by 1.7% in the third quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock worth $4,460,076,000 after purchasing an additional 301,879 shares in the last quarter. Parvus Asset Management Jersey Ltd bought a new position in Flutter Entertainment during the second quarter valued at about $2,231,266,000. Capital International Investors lifted its position in shares of Flutter Entertainment by 4.9% in the third quarter. Capital International Investors now owns 3,256,764 shares of the company’s stock worth $827,841,000 after buying an additional 153,390 shares during the last quarter. Norges Bank bought a new stake in shares of Flutter Entertainment during the 2nd quarter worth about $930,349,000. Finally, State Street Corp boosted its stake in shares of Flutter Entertainment by 120.3% during the 2nd quarter. State Street Corp now owns 3,086,730 shares of the company’s stock worth $882,064,000 after acquiring an additional 1,685,556 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FLUT shares. BTIG Research cut their price objective on Flutter Entertainment from $230.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Barclays decreased their target price on Flutter Entertainment from $304.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Benchmark lowered their price target on Flutter Entertainment from $285.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Needham & Company LLC reduced their price objective on shares of Flutter Entertainment from $300.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $228.00 price objective (down from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. Three investment 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 given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.65.

Flutter Entertainment Price Performance

Shares of NYSE:FLUT opened at $107.28 on Wednesday. The business has a 50 day moving average price of $159.01 and a 200 day moving average price of $213.81. Flutter Entertainment PLC has a twelve month low of $99.96 and a twelve month high of $313.68. The company has a market cap of $18.81 billion, a price-to-earnings ratio of -59.60, a PEG ratio of 0.75 and a beta of 2.30. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31.

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

Flutter Entertainment 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.