Quantinno Capital Management LP Increases Holdings in Flutter Entertainment PLC $FLUT

Quantinno Capital Management LP increased its holdings in shares of Flutter Entertainment PLC (NYSE:FLUT) by 333.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,271 shares of the company’s stock after purchasing an additional 60,981 shares during the quarter. Quantinno Capital Management LP’s holdings in Flutter Entertainment were worth $8,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT boosted its stake in Flutter Entertainment by 1,685.7% in the 4th quarter. Zions Bancorporation National Association UT now owns 125 shares of the company’s stock worth $27,000 after purchasing an additional 118 shares during the period. EFG International AG purchased a new stake in Flutter Entertainment during the 4th quarter valued at approximately $36,000. IFP Advisors Inc raised its position in shares of Flutter Entertainment by 93.8% during the fourth quarter. IFP Advisors Inc now owns 186 shares of the company’s stock valued at $40,000 after buying an additional 90 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Flutter Entertainment by 83.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 165 shares of the company’s stock valued at $42,000 after buying an additional 75 shares during the last quarter. Finally, LM Advisors LLC purchased a new position in shares of Flutter Entertainment in the fourth quarter worth $46,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Flutter Entertainment in a research report on Wednesday, May 27th. Freedom Capital upgraded shares of Flutter Entertainment to a “hold” rating in a research note on Monday, June 22nd. Truist Financial decreased their price target on shares of Flutter Entertainment from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Sanford C. Bernstein dropped their price objective 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. Finally, Wells Fargo & Company cut their price objective on Flutter Entertainment from $168.00 to $137.00 and set an “equal weight” rating for the company in a research report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $176.00.

Insiders Place Their Bets

In other news, COO James Philip Bishop bought 1,000 shares of the stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $99.75 per share, for a total transaction of $99,750.00. Following the acquisition, the chief operating officer owned 17,605 shares of the company’s stock, valued at $1,756,098.75. The trade was a 6.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carolan Lennon sold 439 shares of Flutter Entertainment stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $94.63, for a total transaction of $41,542.57. Following the transaction, the director directly owned 1,688 shares of the company’s stock, valued at approximately $159,735.44. This represents a 20.64% decrease in their ownership of the stock. 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 bought 10,453 shares of company stock valued at $1,045,526 and have sold 5,994 shares valued at $577,293. Insiders own 0.13% of the company’s stock.

Flutter Entertainment Stock Performance

NYSE:FLUT opened at $105.01 on Wednesday. The firm has a market capitalization of $18.27 billion, a PE ratio of -49.07, a PEG ratio of 1.45 and a beta of 1.28. The stock’s fifty day moving average is $104.68 and its 200 day moving average is $115.09. Flutter Entertainment PLC has a fifty-two week low of $91.52 and a fifty-two week high of $313.68. 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 (NYSE:FLUT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.09 by $0.13. Flutter Entertainment had a negative net margin of 2.20% and a positive return on equity of 11.60%. The company had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. Flutter Entertainment’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Flutter Entertainment PLC will post 4.72 earnings per share for the current 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.