Maytus Capital Management LLC Has $3.44 Million Stake in Flutter Entertainment PLC $FLUT

Maytus Capital Management LLC decreased its holdings in Flutter Entertainment PLC (NYSE:FLUT) by 38.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,000 shares of the company’s stock after selling 10,000 shares during the period. Maytus Capital Management LLC’s holdings in Flutter Entertainment were worth $3,441,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. MML Investors Services LLC increased its holdings in shares of Flutter Entertainment by 0.6% in the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after purchasing an additional 45 shares during the period. OneDigital Investment Advisors LLC increased its holdings in shares of Flutter Entertainment by 1.2% in the 3rd 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. Stratos Wealth Partners LTD. increased its holdings in shares of 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Flutter Entertainment by 5.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after purchasing an additional 69 shares during the period. Finally, Truist Financial Corp increased its holdings in shares of Flutter Entertainment by 2.8% in the 4th quarter. Truist Financial Corp now owns 2,602 shares of the company’s stock valued at $560,000 after purchasing an additional 72 shares during the period.

Analysts Set New Price Targets

FLUT has been the topic of a number of research reports. Needham & Company LLC dropped their target price on Flutter Entertainment from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. BNP Paribas Exane initiated coverage on Flutter Entertainment in a report on Thursday, May 14th. They issued an “underperform” rating and a $80.00 target price on the stock. Citigroup downgraded Flutter Entertainment from a “buy” rating to a “sell” rating in a report on Thursday, April 16th. 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 report on Thursday, April 9th. Finally, Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price on the stock. in a report on Friday, April 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.42.

Flutter Entertainment Trading Down 0.1%

NYSE:FLUT opened at $108.92 on Wednesday. The stock’s 50 day moving average price is $103.35 and its 200 day moving average price is $142.26. Flutter Entertainment PLC has a 52 week low of $91.52 and a 52 week high of $313.68. The company has a market capitalization of $18.95 billion, a P/E ratio of -50.90, a P/E/G ratio of 1.41 and a beta of 1.40. 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 released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The firm had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. On average, research analysts forecast that Flutter Entertainment PLC will post 5 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 11th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Flutter Entertainment news, CEO Jeremy Peter Jackson sold 3,084 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $98.13, for a total transaction of $302,632.92. Following the completion of the sale, the chief executive officer owned 74,326 shares of the company’s stock, valued at $7,293,610.38. This represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO James Philip Bishop bought 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $99.75 per share, with a total value of $99,750.00. Following the transaction, the chief operating officer directly owned 17,605 shares of the company’s stock, valued at approximately $1,756,098.75. This trade represents a 6.02% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. Company insiders own 0.13% of the company’s stock.

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.