Flutter Entertainment PLC $FLUT Shares Purchased by Sands Capital Management LLC

Sands Capital Management LLC boosted its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,126,306 shares of the company’s stock after purchasing an additional 4,669 shares during the quarter. Flutter Entertainment makes up 1.5% of Sands Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Sands Capital Management LLC owned 1.21% of Flutter Entertainment worth $540,082,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. JFS Wealth Advisors LLC purchased a new stake in shares of Flutter Entertainment in the 3rd quarter worth about $27,000. JCIC Asset Management Inc. acquired a new stake in Flutter Entertainment in the 3rd quarter valued at about $32,000. Atlantic Union Bankshares Corp purchased a new position in Flutter Entertainment during the 3rd quarter valued at about $34,000. ORG Partners LLC raised its position in Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after acquiring an additional 43 shares during the last quarter. Finally, First Horizon Corp acquired a new position in Flutter Entertainment during the third quarter worth about $39,000.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $107.28 on Wednesday. The company has a market cap of $18.81 billion, a P/E ratio of -59.60, a P/E/G ratio of 0.75 and a beta of 2.30. The firm’s 50 day moving average is $159.01 and its two-hundred day moving average is $213.81. Flutter Entertainment PLC has a fifty-two week low of $99.96 and a fifty-two week high of $313.68. 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 quarterly earnings data on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.37). Flutter Entertainment had a positive return on equity of 12.12% and a negative net margin of 1.89%.The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.87 billion. During the same quarter in the previous year, the company earned $2.94 earnings per share. The company’s quarterly revenue was up 24.9% on a year-over-year basis. Analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Citizens Jmp dropped their price objective on shares of Flutter Entertainment from $275.00 to $195.00 and set a “market outperform” rating for the company in a research note on Friday, February 27th. Craig Hallum downgraded Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, January 21st. Canaccord Genuity Group cut their price target on Flutter Entertainment from $270.00 to $220.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Texas Capital raised Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, Oppenheimer dropped their price objective on Flutter Entertainment from $280.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Three equities 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $234.65.

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.