Scientech Research LLC Takes Position in Flutter Entertainment plc (NYSE:FLUT)

Scientech Research LLC purchased a new stake in Flutter Entertainment plc (NYSE:FLUT) in the 4th quarter, Holdings Channel.com reports. The firm purchased 5,497 shares of the company’s stock, valued at approximately $1,421,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. lifted its position in Flutter Entertainment by 58.8% in the 4th quarter. UMB Bank n.a. now owns 135 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in Flutter Entertainment by 64.1% in the 4th quarter. Harbor Investment Advisory LLC now owns 128 shares of the company’s stock valued at $33,000 after purchasing an additional 50 shares during the last quarter. Seelaus Asset Management LLC lifted its position in Flutter Entertainment by 6.4% in the 4th quarter. Seelaus Asset Management LLC now owns 914 shares of the company’s stock valued at $236,000 after purchasing an additional 55 shares during the last quarter. Ritholtz Wealth Management lifted its position in Flutter Entertainment by 3.5% in the 4th quarter. Ritholtz Wealth Management now owns 1,725 shares of the company’s stock valued at $446,000 after purchasing an additional 59 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Flutter Entertainment by 585.7% in the 4th quarter. Farther Finance Advisors LLC now owns 96 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the last quarter.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $249.23 on Friday. The company’s 50 day moving average price is $233.96 and its 200 day moving average price is $254.05. Flutter Entertainment plc has a 52 week low of $174.03 and a 52 week high of $299.73. The company has a market capitalization of $44.04 billion and a PE ratio of 86.24. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.59 EPS 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 analysts’ expectations of $3.06 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts expect that Flutter Entertainment plc will post 4.17 EPS for the current fiscal year.

Insider Activity at Flutter Entertainment

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

Analysts Set New Price Targets

Several brokerages recently weighed in on FLUT. Benchmark reiterated a “buy” rating and issued a $300.00 price objective on shares of Flutter Entertainment in a research report on Monday, April 21st. Wells Fargo & Company boosted their price target 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. Truist Financial dropped their price target on shares of Flutter Entertainment from $330.00 to $280.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. UBS Group boosted their price target 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. Finally, JMP Securities dropped their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set a “market outperform” rating on the stock in a research report on Monday, April 14th. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Flutter Entertainment has a consensus rating of “Buy” and a consensus price target of $306.28.

Flutter Entertainment 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.