Theleme Partners LLP Sells 87,487 Shares of Flutter Entertainment PLC $FLUT

Theleme Partners LLP reduced its stake in shares of Flutter Entertainment PLC (NYSE:FLUT) by 13.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 556,041 shares of the company’s stock after selling 87,487 shares during the period. Flutter Entertainment comprises approximately 9.0% of Theleme Partners LLP’s holdings, making the stock its 6th biggest position. Theleme Partners LLP owned 0.32% of Flutter Entertainment worth $141,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. ORG Partners LLC grew its stake in Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 43 shares in the last quarter. MML Investors Services LLC raised its stake in Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after buying an additional 45 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in Flutter Entertainment by 1.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock worth $1,030,000 after buying an additional 49 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Flutter Entertainment by 5.6% during the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock worth $240,000 after buying an additional 50 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in shares of Flutter Entertainment by 5.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after acquiring an additional 58 shares in the last quarter.

Flutter Entertainment Trading Up 2.3%

Shares of NYSE:FLUT opened at $109.70 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.31. The company’s 50-day moving average price is $156.89 and its 200 day moving average price is $213.08. The company has a market cap of $19.23 billion, a PE ratio of -60.94, a P/E/G ratio of 0.73 and a beta of 2.30. Flutter Entertainment PLC has a fifty-two week low of $99.96 and a fifty-two week high of $313.68.

Flutter Entertainment (NYSE:FLUT) last posted 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). 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 during the quarter, compared to the consensus estimate of $4.87 billion. During the same quarter last year, the company posted $2.94 EPS. Flutter Entertainment’s revenue for the quarter was up 24.9% on a year-over-year basis. Sell-side analysts anticipate that Flutter Entertainment PLC will post 4.17 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 11th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FLUT. Truist Financial dropped their price target on Flutter Entertainment from $260.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Texas Capital upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flutter Entertainment in a research report on Monday, December 29th. Craig Hallum lowered shares of Flutter Entertainment from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, January 21st. Finally, UBS Group cut their target price on shares of Flutter Entertainment from $320.00 to $300.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.65.

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.