Border to Coast Pensions Partnership Ltd Reduces Position in Flutter Entertainment PLC $FLUT

Border to Coast Pensions Partnership Ltd trimmed its stake in Flutter Entertainment PLC (NYSE:FLUT) by 10.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,084 shares of the company’s stock after selling 11,889 shares during the period. Border to Coast Pensions Partnership Ltd owned 0.06% of Flutter Entertainment worth $26,319,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FLUT. JCIC Asset Management Inc. bought a new stake in Flutter Entertainment during the third quarter valued at about $32,000. Atlantic Union Bankshares Corp bought a new position in shares of Flutter Entertainment during the 3rd quarter valued at approximately $34,000. ORG Partners LLC increased its holdings in Flutter Entertainment by 43.0% in the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after acquiring an additional 43 shares in the last quarter. First Horizon Corp purchased a new stake in Flutter Entertainment in the 3rd quarter worth approximately $39,000. Finally, Allworth Financial LP raised its stake in Flutter Entertainment by 116.4% during the 2nd quarter. Allworth Financial LP now owns 145 shares of the company’s stock worth $41,000 after acquiring an additional 78 shares during the period.

Flutter Entertainment Stock Up 0.4%

Shares of FLUT stock opened at $153.78 on Thursday. The company’s fifty day simple moving average is $202.77 and its two-hundred day simple moving average is $243.55. Flutter Entertainment PLC has a 52 week low of $150.76 and a 52 week high of $313.68. The stock has a market cap of $26.95 billion, a P/E ratio of -118.29 and a beta of 1.88. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.27.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $1.25. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Flutter Entertainment had a positive return on equity of 14.42% and a negative net margin of 0.95%.The business’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.27 earnings per share. Analysts predict that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FLUT shares. Needham & Company LLC reduced their price objective on shares of Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Susquehanna reaffirmed a “positive” rating and issued a $228.00 target price on shares of Flutter Entertainment in a report on Tuesday, January 27th. HSBC upgraded Flutter Entertainment from a “hold” rating to a “buy” rating and cut their price target for the stock from $265.00 to $228.00 in a research note on Monday, November 24th. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a report on Monday, January 5th. Finally, Canaccord Genuity Group dropped their price objective on Flutter Entertainment from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average target price of $276.05.

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.