Flutter Entertainment PLC $FLUT Shares Sold by Wellington Management Group LLP

by · The Cerbat Gem

Wellington Management Group LLP decreased its holdings in Flutter Entertainment PLC (NYSE:FLUT – Free Report) by 8.1% in the first quarter, Holdings Channel reports. The fund owned 2,438,714 shares of the company’s stock after selling 214,129 shares during the period. Wellington Management Group LLP’s holdings in Flutter Entertainment were worth $534,454,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FLUT. GPS Wealth Strategies Group LLC increased its holdings in shares of Flutter Entertainment by 1,375.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company’s stock worth $26,000 after buying an additional 110 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Flutter Entertainment by 78.9% during the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company’s stock worth $30,000 after buying an additional 60 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $33,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Flutter Entertainment during the 4th quarter worth approximately $36,000. Finally, Harbor Investment Advisory LLC increased its holdings in shares of Flutter Entertainment by 43.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 184 shares of the company’s stock worth $41,000 after buying an additional 56 shares during the last quarter.

Insider Activity

In other Flutter Entertainment news, Director Alfred F. Hurley, Jr. sold 265 shares of Flutter Entertainment stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $243.94, for a total value of $64,644.10. Following the transaction, the director directly owned 3,518 shares in the company, valued at approximately $858,180.92. The trade was a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John A. Bryant sold 418 shares of Flutter Entertainment stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $245.71, for a total transaction of $102,706.78. Following the completion of the transaction, the director owned 5,956 shares in the company, valued at approximately $1,463,448.76. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,642 shares of company stock worth $5,490,473 over the last three months. Company insiders own 0.09% of the company’s stock.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $294.05 on Tuesday. The stock has a market cap of $51.78 billion, a P/E ratio of 144.85, a price-to-earnings-growth ratio of 1.22 and a beta of 2.31. The company has a fifty day simple moving average of $288.17 and a 200-day simple moving average of $261.18. Flutter Entertainment PLC has a 12-month low of $196.88 and a 12-month high of $313.68. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT – Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $2.95 EPS for the quarter, topping the consensus estimate of $2.08 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.06 billion. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts expect that Flutter Entertainment PLC will post 4.17 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a share repurchase program on Friday, August 8th that permits the company to buyback $245.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FLUT shares. Barclays raised their price target on shares of Flutter Entertainment from $350.00 to $352.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Canaccord Genuity Group increased their price objective on shares of Flutter Entertainment from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. JMP Securities increased their price objective on shares of Flutter Entertainment from $323.00 to $345.00 and gave the stock a “market outperform” rating in a research report on Friday, August 8th. Macquarie increased their price objective on shares of Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Flutter Entertainment in a research report on Friday, August 8th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Moderate Buy” and an average price target of $328.62.

View Our Latest Stock Report on FLUT

Flutter Entertainment Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding FLUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flutter Entertainment PLC (NYSE:FLUT – Free Report).