Bessemer Group Inc. Sells 22,128 Shares of Flutter Entertainment PLC $FLUT

Bessemer Group Inc. trimmed its position in shares of Flutter Entertainment PLC (NYSE:FLUT) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 375,981 shares of the company’s stock after selling 22,128 shares during the period. Bessemer Group Inc. owned 0.21% of Flutter Entertainment worth $80,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its holdings in Flutter Entertainment by 219.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 115 shares of the company’s stock valued at $25,000 after purchasing an additional 79 shares during the period. JFS Wealth Advisors LLC purchased a new stake in shares of Flutter Entertainment during the third quarter worth $27,000. JCIC Asset Management Inc. purchased a new stake in shares of Flutter Entertainment during the third quarter worth $32,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Flutter Entertainment during the third quarter worth $34,000. Finally, First Horizon Corp purchased a new stake in shares of Flutter Entertainment during the third quarter worth $39,000.

Flutter Entertainment Trading Down 1.5%

Shares of FLUT stock opened at $92.44 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. 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 PE ratio of -43.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.58. The business’s fifty day moving average is $105.39 and its 200 day moving average is $160.11.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.13. Flutter Entertainment had a positive return on equity of 11.60% and a negative net margin of 2.20%.The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $1.59 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts anticipate that Flutter Entertainment PLC will post 5.14 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Flutter Entertainment news, COO James Philip Bishop acquired 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $99.75 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the chief operating officer owned 17,605 shares of the company’s stock, valued at approximately $1,756,098.75. This represents a 6.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Mark Taylor acquired 1,611 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $94.29 per share, for a total transaction of $151,901.19. Following the transaction, the chief executive officer directly owned 34,584 shares of the company’s stock, valued at $3,260,925.36. This represents a 4.89% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 10,453 shares of company stock valued at $1,045,526 and have sold 22,306 shares valued at $2,333,598. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FLUT has been the topic of several recent research reports. Moffett Nathanson downgraded Flutter Entertainment from a “buy” rating to a “neutral” rating and set a $127.00 target price on the stock. in a research report on Friday, April 24th. Citigroup downgraded Flutter Entertainment from a “buy” rating to a “sell” rating in a research report on Thursday, April 16th. Bank of America dropped their target price on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. BNP Paribas Exane initiated coverage on Flutter Entertainment in a research report on Thursday. They set an “underperform” rating and a $80.00 target price on the stock. Finally, Zacks Research downgraded Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.26.

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.