Flutter Entertainment PLC $FLUT Shares Sold by Greencape Capital Pty Ltd

Greencape Capital Pty Ltd reduced its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 62.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,757 shares of the company’s stock after selling 306,793 shares during the period. Flutter Entertainment accounts for 11.6% of Greencape Capital Pty Ltd’s investment portfolio, making the stock its 3rd biggest holding. Greencape Capital Pty Ltd owned 0.11% of Flutter Entertainment worth $47,436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in FLUT. JCIC Asset Management Inc. acquired a new position in Flutter Entertainment during the third quarter worth $32,000. Atlantic Union Bankshares Corp acquired a new position in Flutter Entertainment during the 3rd quarter valued at $34,000. ORG Partners LLC lifted its stake in shares of Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after buying an additional 43 shares during the period. Allworth Financial LP lifted its position in shares of Flutter Entertainment by 116.4% in 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. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Flutter Entertainment during the second quarter worth $42,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company reissued an “equal weight” rating and set a $228.00 price objective (down from $248.00) on shares of Flutter Entertainment in a report on Wednesday, January 14th. Oppenheimer set a $280.00 price target on Flutter Entertainment in a research note on Thursday, January 29th. Stifel Nicolaus cut their price objective on Flutter Entertainment from $304.00 to $259.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Citizens Jmp cut their price objective on shares of Flutter Entertainment from $313.00 to $275.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 22nd. Finally, HSBC raised Flutter Entertainment from a “hold” rating to a “buy” rating and reduced their price target for the stock from $265.00 to $228.00 in a research report on Monday, November 24th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Flutter Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $273.43.

Flutter Entertainment Trading Up 2.1%

Shares of NYSE:FLUT opened at $152.56 on Friday. The business’s 50 day simple moving average is $200.64 and its 200 day simple moving average is $241.43. Flutter Entertainment PLC has a 1 year low of $148.10 and a 1 year high of $313.68. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $26.73 billion, a P/E ratio of -117.35 and a beta of 1.88.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $1.25. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. Flutter Entertainment had a negative net margin of 0.95% and a positive return on equity of 14.42%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 earnings per share. On average, research analysts anticipate 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.