11,270 Shares in Flutter Entertainment plc (NYSE:FLUT) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new position in shares of Flutter Entertainment plc (NYSE:FLUT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 11,270 shares of the company’s stock, valued at approximately $2,913,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLUT. Parvus Asset Management Europe Ltd purchased a new stake in Flutter Entertainment during the 4th quarter worth $2,146,227,000. Norges Bank purchased a new stake in Flutter Entertainment during the 4th quarter worth $946,681,000. Invesco Ltd. bought a new stake in shares of Flutter Entertainment in the 4th quarter worth about $621,680,000. Lone Pine Capital LLC bought a new stake in shares of Flutter Entertainment in the 4th quarter worth about $494,291,000. Finally, Capital World Investors increased its position in shares of Flutter Entertainment by 11.9% in the 4th quarter. Capital World Investors now owns 15,426,515 shares of the company’s stock worth $3,986,968,000 after purchasing an additional 1,635,241 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Truist Financial dropped their target price on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. UBS Group boosted their target price on shares of Flutter Entertainment from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Citigroup reissued an “outperform” rating on shares of Flutter Entertainment in a research report on Wednesday, March 5th. Macquarie reissued an “outperform” rating and issued a $340.00 target price (up previously from $330.00) on shares of Flutter Entertainment in a research report on Thursday, May 8th. Finally, Wells Fargo & Company boosted their target price on shares of Flutter Entertainment from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Twenty investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $306.28.

Insider Transactions at Flutter Entertainment

In other news, Director Jeremy Peter Jackson sold 25,027 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $261.96, for a total value of $6,556,072.92. Following the completion of the sale, the director now directly owns 21,148 shares of the company’s stock, valued at approximately $5,539,930.08. This represents a 54.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Amy Howe sold 11,814 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $260.50, for a total transaction of $3,077,547.00. Following the completion of the sale, the chief executive officer now directly owns 62,941 shares of the company’s stock, valued at approximately $16,396,130.50. This represents a 15.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,156 shares of company stock valued at $10,926,922.

Flutter Entertainment Trading Down 1.5%

Flutter Entertainment stock opened at $244.33 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $233.60 and a two-hundred day moving average price of $253.91. The firm has a market capitalization of $43.17 billion and a price-to-earnings ratio of 84.54. Flutter Entertainment plc has a 52-week low of $174.03 and a 52-week high of $299.73.

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

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.