Alamut Investment Management LLP Purchases 64,551 Shares of Flutter Entertainment PLC $FLUT

Alamut Investment Management LLP boosted its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 79.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 145,777 shares of the company’s stock after purchasing an additional 64,551 shares during the quarter. Flutter Entertainment makes up approximately 38.1% of Alamut Investment Management LLP’s investment portfolio, making the stock its 2nd biggest position. Alamut Investment Management LLP’s holdings in Flutter Entertainment were worth $31,348,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Makena Capital Management LLC acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at $11,517,000. Norges Bank acquired a new position in shares of Flutter Entertainment in the 4th quarter valued at $694,009,000. CenterBook Partners LP lifted its stake in shares of Flutter Entertainment by 723.5% in the 3rd quarter. CenterBook Partners LP now owns 13,967 shares of the company’s stock valued at $3,548,000 after purchasing an additional 12,271 shares during the period. Peregrine Capital Management LLC lifted its stake in shares of Flutter Entertainment by 34.2% in the 4th quarter. Peregrine Capital Management LLC now owns 150,979 shares of the company’s stock valued at $32,467,000 after purchasing an additional 38,469 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Flutter Entertainment by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 17,559,354 shares of the company’s stock valued at $4,460,076,000 after purchasing an additional 301,879 shares during the period.

Analyst Upgrades and Downgrades

FLUT has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on Flutter Entertainment from $161.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, June 12th. Kepler Capital Markets downgraded Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Wedbush initiated coverage on Flutter Entertainment in a research note on Monday. They issued an “outperform” rating and a $138.00 price target on the stock. Barclays cut their price target on Flutter Entertainment from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Citizens Jmp lowered their price objective on shares of Flutter Entertainment from $188.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.42.

Flutter Entertainment Price Performance

FLUT opened at $101.41 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. Flutter Entertainment PLC has a 12 month low of $91.52 and a 12 month high of $313.68. The company has a fifty day simple moving average of $103.28 and a 200 day simple moving average of $141.56. The stock has a market cap of $17.64 billion, a P/E ratio of -47.39, a P/E/G ratio of 1.41 and a beta of 1.40.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.13. The business had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 EPS. On average, research analysts expect that Flutter Entertainment PLC will post 5 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback plan on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Flutter Entertainment

In other news, Director John A. Bryant acquired 1,950 shares of Flutter Entertainment stock in a transaction dated Friday, May 8th. The stock was bought at an average cost of $102.86 per share, with a total value of $200,577.00. Following the completion of the transaction, the director directly owned 9,235 shares of the company’s stock, valued at approximately $949,912.10. This represents a 26.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James Philip Bishop acquired 1,000 shares of Flutter Entertainment stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $99.75 per share, with a total value of $99,750.00. Following the completion of the transaction, the chief operating officer directly owned 17,605 shares of the company’s stock, valued at $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 acquired 10,453 shares of company stock valued at $1,045,526 and sold 5,994 shares valued at $577,293. 0.13% of the stock is currently owned by corporate insiders.

Flutter Entertainment Company 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.