HughesLittle Investment Management Ltd. Has $53 Million Position in Flutter Entertainment PLC $FLUT

HughesLittle Investment Management Ltd. raised its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 3.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 244,390 shares of the company’s stock after purchasing an additional 7,275 shares during the quarter. Flutter Entertainment accounts for about 8.8% of HughesLittle Investment Management Ltd.’s portfolio, making the stock its 6th largest holding. HughesLittle Investment Management Ltd.’s holdings in Flutter Entertainment were worth $53,001,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Axxcess Wealth Management LLC boosted its holdings in Flutter Entertainment by 19.2% during the fourth quarter. Axxcess Wealth Management LLC now owns 3,085 shares of the company’s stock worth $663,000 after buying an additional 497 shares in the last quarter. Vident Advisory LLC raised its position in shares of Flutter Entertainment by 10.4% during the fourth quarter. Vident Advisory LLC now owns 1,608 shares of the company’s stock worth $346,000 after purchasing an additional 152 shares during the period. Mackenzie Financial Corp raised its position in shares of Flutter Entertainment by 7.9% during the fourth quarter. Mackenzie Financial Corp now owns 12,620 shares of the company’s stock worth $2,739,000 after purchasing an additional 919 shares during the period. NewEdge Advisors LLC raised its position in shares of Flutter Entertainment by 22.4% during the fourth quarter. NewEdge Advisors LLC now owns 753 shares of the company’s stock worth $162,000 after purchasing an additional 138 shares during the period. Finally, XTX Topco Ltd raised its position in shares of Flutter Entertainment by 90.0% during the fourth quarter. XTX Topco Ltd now owns 20,607 shares of the company’s stock worth $4,431,000 after purchasing an additional 9,762 shares during the period.

Insider Activity

In other news, CEO Daniel Mark Taylor acquired 1,611 shares of Flutter Entertainment stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $94.29 per share, with a total value of $151,901.19. Following the completion of the transaction, the chief executive officer owned 34,584 shares in the company, valued at approximately $3,260,925.36. This trade represents a 4.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Don H. Liu sold 1,259 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $93.37, for a total value of $117,552.83. Following the completion of the transaction, the insider owned 21,006 shares in the company, valued at $1,961,330.22. This represents a 5.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have acquired 10,453 shares of company stock valued at $1,045,526 and have sold 22,306 shares valued at $2,333,598. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FLUT. Wells Fargo & Company cut their target price on Flutter Entertainment from $164.00 to $161.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Benchmark decreased their target price on shares of Flutter Entertainment from $175.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Sanford C. Bernstein decreased their target price on shares of Flutter Entertainment from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, May 7th. Zacks Research cut shares of Flutter Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Finally, Susquehanna decreased their target price on shares of Flutter Entertainment from $160.00 to $143.00 and set a “positive” rating for the company in a report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $189.26.

Flutter Entertainment Stock Down 1.5%

Flutter Entertainment stock opened at $92.44 on Friday. The firm has a market cap of $16.08 billion, a PE ratio of -43.19, a P/E/G ratio of 1.16 and a beta of 1.58. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50 day moving average price is $105.39 and its two-hundred day moving average price is $160.11. Flutter Entertainment PLC has a twelve month low of $91.52 and a twelve month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.13. The firm had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.24 billion. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.59 EPS. On average, research analysts predict that Flutter Entertainment PLC will post 4.88 EPS for the current fiscal year.

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

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.