Matthew 25 Management Corp Buys 6,000 Shares of Flutter Entertainment PLC $FLUT

Matthew 25 Management Corp boosted its stake in Flutter Entertainment PLC (NYSE:FLUT) by 10.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,000 shares of the company’s stock after purchasing an additional 6,000 shares during the quarter. Flutter Entertainment comprises 4.8% of Matthew 25 Management Corp’s portfolio, making the stock its 9th largest position. Matthew 25 Management Corp’s holdings in Flutter Entertainment were worth $15,494,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Flutter Entertainment during the 2nd quarter valued at $405,000. Atria Investments Inc increased its holdings in shares of Flutter Entertainment by 158.8% during the 2nd quarter. Atria Investments Inc now owns 3,051 shares of the company’s stock worth $872,000 after buying an additional 1,872 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of Flutter Entertainment in the 2nd quarter worth $14,121,000. Finally, Savant Capital LLC purchased a new position in shares of Flutter Entertainment in the 2nd quarter worth $909,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FLUT shares. Morgan Stanley reduced their target price on Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Craig Hallum downgraded Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 21st. UBS Group decreased their target price on Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Oppenheimer dropped their target price on shares of Flutter Entertainment from $280.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Finally, Bank of America cut their price target on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.65.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $112.25 on Friday. 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 1-year low of $99.96 and a 1-year high of $313.68. The company has a market capitalization of $19.68 billion, a price-to-earnings ratio of -62.36, a PEG ratio of 0.76 and a beta of 2.30. The business has a 50-day moving average of $163.36 and a 200-day moving average of $217.01.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Thursday, February 26th. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.37). The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $2.94 earnings per share. On average, equities analysts anticipate that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

About Flutter Entertainment

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.