Rathbones Group PLC Buys New Shares in Flutter Entertainment PLC $FLUT

Rathbones Group PLC purchased a new stake in shares of Flutter Entertainment PLC (NYSE:FLUT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,825 shares of the company’s stock, valued at approximately $1,734,000.

Other large investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Flutter Entertainment in the 3rd quarter valued at about $1,339,000. Vinva Investment Management Ltd lifted its stake in Flutter Entertainment by 320.5% in the third quarter. Vinva Investment Management Ltd now owns 6,888 shares of the company’s stock valued at $1,750,000 after buying an additional 5,250 shares during the period. Matthew 25 Management Corp boosted its holdings in shares of Flutter Entertainment by 10.9% during the 3rd quarter. Matthew 25 Management Corp now owns 61,000 shares of the company’s stock worth $15,494,000 after buying an additional 6,000 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Flutter Entertainment by 3.4% during the 3rd quarter. First Trust Advisors LP now owns 551,667 shares of the company’s stock worth $140,123,000 after buying an additional 17,913 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in shares of Flutter Entertainment by 163.6% during the 3rd quarter. Gabelli Funds LLC now owns 2,900 shares of the company’s stock worth $737,000 after buying an additional 1,800 shares during the period.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company reissued an “equal weight” rating and set a $228.00 target price (down from $248.00) on shares of Flutter Entertainment in a research note on Wednesday, January 14th. Sanford C. Bernstein reiterated a “market perform” rating and set a $170.00 price objective on shares of Flutter Entertainment in a report on Friday, February 6th. HSBC raised shares of Flutter Entertainment from a “hold” rating to a “buy” rating and cut their price objective for the stock from $265.00 to $228.00 in a research report on Monday, November 24th. Canaccord Genuity Group dropped their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, March 2nd. Finally, Morgan Stanley cut their price target on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment has an average rating of “Moderate Buy” and a consensus price target of $234.65.

Flutter Entertainment Trading Down 2.4%

NYSE:FLUT opened at $109.60 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.95 and a quick ratio of 0.95. Flutter Entertainment PLC has a one year low of $99.96 and a one year high of $313.68. The company has a market cap of $19.21 billion, a PE ratio of -60.89, a PEG ratio of 0.76 and a beta of 2.32. The firm has a 50-day moving average of $161.21 and a 200-day moving average of $215.16.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Thursday, February 26th. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.37). The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate 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 was up 24.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.94 EPS. As a group, equities research analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal 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.