Rockingstone Advisors LLC Makes New Investment in Flutter Entertainment PLC $FLUT

Rockingstone Advisors LLC bought a new position in shares of Flutter Entertainment PLC (NYSE:FLUT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,955 shares of the company’s stock, valued at approximately $1,066,000.

A number of other institutional investors have also recently bought and sold shares of the business. ORG Partners LLC grew its holdings in Flutter Entertainment by 43.0% during the 3rd quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after acquiring an additional 43 shares during the period. MML Investors Services LLC grew its holdings in Flutter Entertainment by 0.6% during the 2nd quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock worth $2,024,000 after acquiring an additional 45 shares during the period. OneDigital Investment Advisors LLC grew 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 acquiring an additional 49 shares during the period. Versant Capital Management Inc grew 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 acquiring an additional 50 shares during the period. Finally, Stratos Wealth Partners LTD. grew its holdings in Flutter Entertainment by 5.7% during 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 during the period.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FLUT. Kepler Capital Markets lowered shares of Flutter Entertainment from a “strong-buy” rating to a “hold” rating in a report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flutter Entertainment in a report on Monday, December 29th. BTIG Research lowered their target price on shares of Flutter Entertainment from $180.00 to $177.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Bank of America lowered their target price on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, January 22nd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $170.00 target price on shares of Flutter Entertainment in a report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $213.40.

Flutter Entertainment Price Performance

Shares of FLUT stock opened at $106.68 on Thursday. Flutter Entertainment PLC has a 12-month low of $98.88 and a 12-month high of $313.68. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of -59.27, a price-to-earnings-growth ratio of 0.79 and a beta of 1.93. 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 firm has a fifty day moving average of $110.75 and a 200-day moving average of $175.46.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Friday, February 27th. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.37). Flutter Entertainment had a negative net margin of 1.89% and a positive return on equity of 12.12%. The firm had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.87 billion. During the same period last year, the firm earned $2.94 EPS. Flutter Entertainment’s quarterly revenue was up 24.9% on a year-over-year basis. On average, equities research analysts forecast that Flutter Entertainment PLC will post 5.14 earnings per share for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a share buyback program on Wednesday, March 11th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, CEO Amy Howe sold 8,895 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $105.91, for a total value of $942,069.45. Following the completion of the transaction, the chief executive officer owned 78,889 shares of the company’s stock, valued at $8,355,133.99. The trade was a 10.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Coldrake sold 4,613 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were 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 $1,065,138.70. This trade represents a 31.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,834 shares of company stock valued at $1,900,331 in the last quarter. Company insiders own 0.09% of the company’s stock.

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.