HughesLittle Investment Management Ltd. Has $53 Million Stake in Flutter Entertainment PLC $FLUT

HughesLittle Investment Management Ltd. increased its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,390 shares of the company’s stock after buying an additional 7,275 shares during the quarter. Flutter Entertainment comprises approximately 8.8% of HughesLittle Investment Management Ltd.’s holdings, making the stock its 6th largest position. HughesLittle Investment Management Ltd. owned 0.14% of Flutter Entertainment worth $53,001,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FLUT. Vanguard Group Inc. boosted its stake in Flutter Entertainment by 1.7% during 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. Capital International Investors boosted its stake in Flutter Entertainment by 146.8% during the 4th quarter. Capital International Investors now owns 8,039,066 shares of the company’s stock valued at $1,728,772,000 after purchasing an additional 4,782,302 shares during the period. Cibc World Markets Corp acquired a new position in Flutter Entertainment during the 4th quarter valued at about $1,678,841,000. Caledonia Private Investments Pty Ltd boosted its stake in Flutter Entertainment by 3.8% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 7,191,861 shares of the company’s stock valued at $1,546,538,000 after purchasing an additional 264,856 shares during the period. Finally, Tiger Global Management LLC raised its holdings in shares of Flutter Entertainment by 9.4% during the fourth quarter. Tiger Global Management LLC now owns 4,003,542 shares of the company’s stock valued at $860,922,000 after buying an additional 345,350 shares during the last quarter.

Flutter Entertainment Stock Down 1.5%

FLUT stock opened at $92.44 on Friday. 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 $16.08 billion, a price-to-earnings ratio of -43.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.58. The firm’s 50-day moving average is $105.39 and its two-hundred day moving average is $160.11. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. Flutter Entertainment’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.59 EPS. On average, analysts forecast that Flutter Entertainment PLC will post 4.88 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has approved a stock repurchase program on Wednesday, March 11th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Flutter Entertainment news, CFO Robert Coldrake sold 4,613 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $106.45, for a total transaction of $491,053.85. Following the completion of the transaction, the chief financial officer directly owned 10,006 shares of the company’s stock, valued at approximately $1,065,138.70. This trade represents a 31.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremy Peter Jackson sold 4,326 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $108.00, for a total transaction of $467,208.00. Following the completion of the sale, the chief executive officer owned 36,788 shares in the company, valued at approximately $3,973,104. This trade represents a 10.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders purchased 10,453 shares of company stock worth $1,045,526 and sold 22,306 shares worth $2,333,598. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FLUT. Bank of America cut their price target on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. BNP Paribas Exane began coverage on Flutter Entertainment in a report on Thursday. They set an “underperform” rating and a $80.00 price target on the stock. Benchmark cut their price target on Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Craig Hallum cut Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research note on Wednesday, January 21st. Finally, Kepler Capital Markets cut Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Flutter Entertainment presently has an average rating of “Moderate Buy” and an average price target of $189.26.

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.