Rip Road Capital Partners LP Cuts Stock Holdings in Flutter Entertainment plc (NYSE:FLUT)

Rip Road Capital Partners LP decreased its holdings in shares of Flutter Entertainment plc (NYSE:FLUT) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,451 shares of the company’s stock after selling 5,417 shares during the period. Flutter Entertainment accounts for about 5.1% of Rip Road Capital Partners LP’s holdings, making the stock its 9th largest holding. Rip Road Capital Partners LP’s holdings in Flutter Entertainment were worth $6,061,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Europe London LLP bought a new position in Flutter Entertainment in the fourth quarter worth about $19,555,000. Point72 Hong Kong Ltd purchased a new position in shares of Flutter Entertainment during the 4th quarter worth approximately $2,913,000. PointState Capital LP raised its position in shares of Flutter Entertainment by 12.2% in the 4th quarter. PointState Capital LP now owns 805,201 shares of the company’s stock worth $208,104,000 after acquiring an additional 87,605 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Flutter Entertainment by 7.9% during the fourth quarter. Quantinno Capital Management LP now owns 10,776 shares of the company’s stock valued at $2,785,000 after purchasing an additional 786 shares in the last quarter. Finally, Man Group plc grew its stake in Flutter Entertainment by 62.4% in the fourth quarter. Man Group plc now owns 59,504 shares of the company’s stock worth $15,379,000 after purchasing an additional 22,865 shares during the period.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup reiterated an “outperform” rating on shares of Flutter Entertainment in a report on Wednesday, March 5th. Wells Fargo & Company lifted their price target on shares of Flutter Entertainment from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Macquarie reissued an “outperform” rating and set a $340.00 price objective (up previously from $330.00) on shares of Flutter Entertainment in a research note on Thursday, May 8th. UBS Group raised their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $310.00 target price on shares of Flutter Entertainment in a report on Thursday, May 8th. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $306.28.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT opened at $248.74 on Thursday. The firm’s 50-day moving average price is $233.26 and its 200-day moving average price is $253.78. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73. The company has a market cap of $43.95 billion and a PE ratio of 86.07. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.30). Flutter Entertainment had a negative net margin of 6.86% and a negative return on equity of 4.52%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts anticipate that Flutter Entertainment plc will post 4.17 EPS for the current year.

Insider Transactions at Flutter Entertainment

In related news, CEO Amy Howe sold 2,315 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $243.50, for a total transaction of $563,702.50. Following the completion of the sale, the chief executive officer now directly owns 73,947 shares in the company, valued at approximately $18,006,094.50. The trade was a 3.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeremy Peter Jackson sold 25,027 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $261.96, for a total transaction of $6,556,072.92. Following the completion of the transaction, the director now owns 21,148 shares in the company, valued at $5,539,930.08. The trade was a 54.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,156 shares of company stock worth $10,926,922 in the last ninety days.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.